CVU - CPI Aero Receives $9.6 Million Purchase Orders From U.S. Air Force for T-38 Aircraft Modification Kits | Benzinga
EDGEWOOD, N.Y., Nov. 08, 2023 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. ("CPI Aero®" or the "Company") (NYSE:CVU) announced that it has been awarded multiple purchase orders totaling $9.6 million under a previously announced contract from the U. S. Air Force valued at up to $65.7 million to provide structural modification kits, program management, logistics, and other sustainment services in support of Phase 3 of the T-38C Pacer Classic III Fuselage Structural Modification Kit Integration program ("PCIII") and the Talon Repair Inspection and Maintenance ("TRIM") program. The new purchase orders bring the total funded value of the contract to $48.3 million and extends the currently funded period of performance into 2028.
The Northrop T-38 has been the principal supersonic jet trainer used by the U.S. Air Force for more than 50 years. PCIII and TRIM are expected to give the aircraft a structural makeover that will provide strength and longevity by increasing the structural service life of the aircraft beyond 2030.
"Kitting and Supply Chain Management is a key segment of CPI's ...