Lockheed Martin has awarded $1 million contract to CPI Aerostructures for P-3 Orion's structural assemblies
12:00 AM, December 11, 2009
CPI Aerostructures, Inc. ("CPI Aero(R)") (NYSE Amex: CVU) announced today that it has received an order from Lockheed Martin Corporation ("Lockheed") to produce aircraft structural assemblies for the U.S. Navy's P-3 "Orion" aircraft, valued at $1.03 million. Work on this order will commence immediately and deliveries will run through mid 2011. Edward J. Fred, CPI Aero's CEO and President, stated, "This order from Lockheed, a long-term customer with whom we have had a solid relationship, diversifies the parts we produce on a platform for which we've already provided quality deliveries and enables us to continue to support a vital U.S. Navy program. This award enhances our current business and we believe it improves our prospects for future orders from Lockheed."
The Brazilian Air Force (FAB) has taken delivery of the seventh P-3AM Orion patrol aircraft, under a contract to modernize the fleet.
The P-3AM Orion is used in the monitoring and protection of marine...