CPI Aerostructures Receives $2.7M Order From Lockheed Martin for F-16V Structural Assemblies

EDGEWOOD, N.Y., July 07, 2022 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. ("CPI Aero®") (OTC:CVUA ) today announced that Lockheed Martin (NYSE:LMT ) has placed an order against a previously announced multi-year contract to manufacture structural assemblies for the F-16V aircraft, the world's most technologically advanced fourth generation fighter. This order funds additional quantities of Rudder Island and Drag Chute Canister ("RI/DCC") assemblies for the F-16V. The RI/DCC is a large structural sub-assembly that is installed on the tail section of the aircraft. This order brings the total funding authorized to date on this multi-year contract to $20.6 million. Deliveries on this follow-on order are expected to begin during the fourth quarter of 2023 and continue through mid-2024. "CPI Aero is proud to be part of the F-16 Program. There are over 25 Allied Partner Nation operating the F-16, and Lockheed Martin and the USAF continue to see interest in the F-16V from countries looking to operate it for the first time. We are excited to see Lockheed Martin demonstrate, with these additional orders, its continued confidence in ... Full story available on Benzinga.com