CPI Aerostructures Delivers First Pod Structure Of Latest Production Contract For Next Generation Jammer Mid-Band Program To Raytheon, Under A Previously Announced Contract Award With A Maximum Value Of $32.6M

Author: Benzinga Newsdesk | July 08, 2024 08:15am

CPI Aerostructures, Inc. ("CPI Aero®" or the "Company") (NYSE:CVU) announced today that it shipped the first Low Rate Initial Production 3 (LRIP 3) pod structure to RTX Corporation as authorized under a previously announced contract award with a maximum value of $32.6 million. Pod structure deliveries on LRIP 3 are expected through mid-2025 after which CPI Aero anticipates transitioning to Lot 4 deliveries. In addition to the pod structures, CPI Aero produces air management system (AMS) components integral to the Next Generation Jammer Mid-Band (NGJ-MB) program.

Posted In: CVU RTX