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CPI Aerostructures Selected to Join Northrop Grumman Next Generation Jammer – Low Band Program Team

CPI Aero Receives Order for Pod Structure and Risk Reduction Activities

EDGEWOOD, N.Y., May 12, 2020 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American: CVU) announced that it received an initial order from Northrop Grumman Corporation to supply structural components, assemblies and supporting risk reduction activities in support of Northrop Grumman’s proposal to the U.S. Navy for the Next Generation Jammer-Low Band (NGJ-LB) system. Northrop Grumman submitted its proposal for NGJ-LB Capability Block 1 (CB-1) in January 2020.

This initial purchase order funds non-recurring tooling, and other risk reduction activities supporting NGJ-LB CB-1. The anticipated period of performance of NGJ-LB CB-1 is through 2025 with deliveries commencing in the 1st quarter of 2021.

The Next Generation Jammer (NGJ) system is an external carriage Airborne Electronic Attack capability for the EA-18G that will provide enhanced capabilities to disrupt, deny, degrade, and deceive enemy air defense and ground communication systems. Comprised of three stand-alone programs - NGJ Mid-Band, NGJ Low Band, and a future NGJ High Band - each program covers a different frequency band and addresses a variety of adversary systems. NGJ will augment and eventually replace the ALQ-99 Tactical Jamming System currently integrated on the EA-18G Growler aircraft.

Douglas McCrosson, President and CEO of CPI Aero, stated, “CPI Aero is a critical supplier to several defense contractors in the airborne pod market in support of critical Intelligence, Surveillance, Reconnaissance (ISR) and Electronic Warfare (EW) Missions. As the manufacturer of the ALQ-249 Next Generation Jammer - Mid Band pod structure and assembly developed by Raytheon, CPI Aero is very pleased to now bring its extensive experience to the Northrop Grumman team of EW engineering and mission experts.”

About CPI Aero
CPI Aero is a U.S. manufacturer of structural assemblies for fixed wing aircraft, helicopters and airborne Intelligence Surveillance and Reconnaissance pod systems in both the commercial aerospace and national security markets. Within the global aerostructure supply chain, CPI Aero is either a Tier 1 supplier to aircraft OEMs or a Tier 2 subcontractor to major Tier 1 manufacturers. CPI also is a prime contractor to the U.S. Department of Defense, primarily the Air Force. In conjunction with its assembly operations, CPI Aero provides engineering, program management, supply chain management, and MRO services. CPI Aero is included in the Russell Microcap® Index.

The above statements include forward looking statements that involve risks and uncertainties, which are described from time to time in CPI Aero's SEC reports, including CPI Aero's Form 10-K for the year ended December 31, 2018, and Form 10-Q for the three-month periods ended March 31, 2019, June 30, 2019, and September 30, 2019.

CPI Aero® is a registered trademark of CPI Aerostructures, Inc. For more information, visit www.cpiaero.com, and follow us on Twitter @CPIAERO.

Investor Relations Contacts:

LHA Investor Relations
Sanjay M. Hurry/Jody Burfening
(212) 838-3777