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CPI Aerostructures Receives $1.2M Follow-On Order From Lockheed Martin For F-16 Structural Assemblies

EDGEWOOD, N.Y., June 22, 2020 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. ("CPI Aero®") (NYSE:CVU) today announced that it was awarded a follow-on order from Lockheed Martin (NYSE:LMT) to manufacture

Benzinga · -

EDGEWOOD, N.Y., June 22, 2020 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. ("CPI Aero®") (NYSE:CVU) today announced that it was awarded a follow-on order from Lockheed Martin (NYSE:LMT) to manufacture structural assemblies for new production F-16 Block 70/72 aircraft ‒ the newest and most advanced F-16 production configuration.
 

In February 2019, CPI Aero announced a multi-year contract with Lockheed Martin to provide Rudder Island and Drag Chute Canister (RI/DCC) assemblies for the F-16. Including the follow-on order, the total value of firm orders under the contract to CPI Aero has now reached approximately $8.7 million. Deliveries under the follow-on order are expected to occur in late 2021.