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CPI Aerostructures Announces $708,000 Contract Award from Sikorsky Aerospace Services

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  Published in Business and Finance on Wednesday, June 9th 2010 at 13:40 GMT by Market Wire
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EDGEWOOD, N.Y.--([ BUSINESS WIRE ])--CPI Aerostructures, Inc. (aCPI Aero^®a) (NYSE Amex: CVU) announced today that it has received a contract from Sikorsky Aerospace Services valued at approximately $708,000 to provide rotary wing head ring assemblies for the MH-53 and CH-53 variant helicopters. Sikorsky Aerospace Services is the worldwide aftermarket division of Sikorsky Aircraft Corp., a subsidiary of United Technologies Corp. (NYSE: UTX).

"We are pleased with this award for many reasons. We have not performed MH-53 or CH-53 helicopter work before and we will gain experience on new platforms. In addition, this is the first award we have obtained from Sikorsky Aerospace Services, the aftermarket arm of Sikorsky."

The ring assembly connects the fairing to the helicoptera™s main rotor hub. Delivery of these assemblies will begin in late 2010. The MH-53 and CH-53 helicopters are used for a variety of purposes including long-range search and rescue missions, long-range minesweeping or Airborne Mine Countermeasures (AMCM) missions and heavy lifting.

Edward J. Fred, CPI Aeroa™s President & CEO stated, aWe are pleased with this award for many reasons. We have not performed MH-53 or CH-53 helicopter work before and we will gain experience on new platforms. In addition, this is the first award we have obtained from Sikorsky Aerospace Services, the aftermarket arm of Sikorsky.a

About Sikorsky Aerospace Services

Sikorsky Aerospace Services, a Sikorsky company, provides comprehensive support to rotary and fixed wing operators around the world. It offers its military and commercial customers a full portfolio of support services, including material distribution, maintenance, overhaul & repair, aircraft modifications and life-cycle support. Sikorsky Aircraft Corp., based in Stratford, Conn., is a world leader in helicopter design, manufacture and service. United Technologies Corp., based in Hartford, Conn., provides a broad range of high technology products and support services to the aerospace and building systems industries worldwide.

About CPI Aero

CPI Aero is engaged in the contract production of structural aircraft parts for leading prime defense contractors, the U.S. Air Force, and other branches of the armed forces. In conjunction with its assembly operations, CPI Aero provides engineering, technical and program management services. Among the key programs that CPI Aero supplies are the E-2D Hawkeye surveillance aircraft, the UH-60 BLACK HAWK helicopter, the S-92^® helicopter, the MH-60S mine countermeasure helicopter, the Gulfstream G650, C-5A Galaxy cargo jet, the T-38 Talon jet trainer, the A-10 Thunderbolt attack jet, and the E-3 Sentry AWACS jet. 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 Aeroa™s SEC reports, including CPI Aeroa™s Form 10-K for the year ended December 31, 2009 and Form 10-Q for the quarter ended March 31, 2010.

CPI Aero^® is a registered trademark of CPI Aerostructures, Inc.