CVU CPI Aerostructures

CPI Aerostructures Delivers Airborne Pod Structure in Support of Northrop Grumman’s Airborne Laser Mine Detection Program for Korea

CPI Aerostructures Delivers Airborne Pod Structure in Support of Northrop Grumman’s Airborne Laser Mine Detection Program for Korea

1st pod delivery for Northrop Grumman’s EMD Phase of Program with KAI

EDGEWOOD, N.Y., April 07, 2025 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero®” or the “Company”) (NYSE American: CVU) announced today that they completed production and delivery of an Airborne Laser Mine Detection System (ALMDS) pod structure for Northrop Grumman. The pod supports a contract awarded to Northrop Grumman in February 2023 by Korea Aerospace Industries, Ltd. (KAI), aiming to deliver ALMDS solutions and technical assistance for the Engineering, Manufacturing, and Design (EMD) phase of the Republic of Korea’s Mine Countermeasures Helicopter (KMCH) program. The EMD phase is expected to be completed in 2027. There is also the potential for a follow-on order for Low-Rate Production of eight pods worth approximately $3 million.

The mission of ALMDS is to rapidly detect, classify and localize floating and near-surface moored mines. ALMDS is capable of untethered day or night operations, which allows it to attain high area search rates. ALMDS also provides accurate target geo-location to support follow-on neutralization of detected mines. Northrop Grumman’s self-contained design allows ALMDS to be installed on several aircraft types. “CPI Aero has delivered 28 ALMDS Pod structures to Northrop Grumman – 24 for the U.S. Navy and 4 for the Japanese Maritime Self Defense Force, dating back to 2007,” said Dorith Hakim, president and CEO of CPI Aero. “This program is further demonstration of CPI Aero’s expertise in manufacturing airborne pods in support of multiple Tier 1 customers for multiple mission areas, including Electronic Warfare (EW) and Intelligence Surveillance and Reconnaissance (ISR).”

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.

Forward-looking Statements 

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included or incorporated in this press release are forward-looking statements. Words such as “expected,” “potential,” and similar expressions are intended to identify these forward-looking statements. The Company does not guarantee that it will actually achieve the plans, intentions or expectations disclosed in its forward-looking statements and you should not place undue reliance on the Company’s forward-looking statements.

Forward-looking statements involve risks and uncertainties, and actual results could vary materially from these forward-looking statements. There are a number of important factors that could cause the Company’s actual results to differ materially from those indicated or implied by its forward-looking statements, including those important factors set forth under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the period ended December 31, 2024 filed with the Securities and Exchange Commission. Although the Company may elect to do so at some point in the future, the Company does not assume any obligation to update any forward-looking statements and it disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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

Contacts:  
Investor Relations CounselCPI Aerostructures, Inc.
Alliance Advisors IRPhilip Passarello
Jody Burfening Chief Financial Officer
(212) 838-3777(631) 586-5200
 
  


EN
07/04/2025

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