CPI Aero Receives $9.6 Million Purchase Orders From U.S. Air Force for T-38 Aircraft Modification Kits

EDGEWOOD, N.Y., Nov. 08, 2023 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero®” or the “Company”) (NYSE American: CVU) announced that it has been awarded multiple purchase orders totaling $9.6 million under a previously announced contract from the U. S. Air Force valued at up to $65.7 million to provide structural modification kits, program management, logistics, and other sustainment services in support of Phase 3 of the T-38C Pacer Classic III Fuselage Structural Modification Kit Integration program (“PCIII”) and the Talon Repair Inspection and Maintenance (“TRIM”) program. The new purchase orders bring the total funded value of the contract to $48.3 million and extends the currently funded period of performance into 2028.