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Raytheon Technologies Recognizes CPI Aerostructures With 2020 Premier Supplier Excellence Award

EDGEWOOD, N.Y., April 23, 2020 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American: CVU) today announced that it received a 2020 Premier Supplier Excellence Award from Raytheon Company (“Raytheon”) for its outstanding performance, contribution, and support to Raytheon’s programs.

Premier Awards recognize suppliers who have demonstrated premier achievement to Raytheon in four categories: business management, technical, partnership or affordability. Only the highest achieving suppliers are awarded this honor. CPI Aero secured the Award in the partnership category. The Company is currently a key structural assembly supplier on a number of Raytheon programs.

CPI received the award for its work supporting Raytheon Company in 2019. In April 2020, Raytheon Company merged with United Technologies to form Raytheon Technologies.

“Partnering with our customers to solve problems and drive results are hallmarks of our business and something that we are very passionate about,” said Douglas McCrosson, President and CEO of CPI Aero. “On behalf of all of CPI Aero, I am proud to receive this award that recognizes the commitment of our workforce to deliver exceptional performance and reinforces our growing reputation as a strategic value-added partner to the defense industry.”

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