CPI Aero wins $15M airborne pod deal, lifting program total to $43.5M
CPI Aerostructures, Inc. (NYSE American: CVU) has been awarded a $15 million contract for airborne pods from an undisclosed customer, according to a company statement.
The award brings the total number of pods ordered by this customer to 90 and raises the total funded value of the program to $43.5 million. Deliveries are scheduled through 2028.
The scope of work includes design and development of assembly tools and fixturing, procurement of complex monolithic machine parts and other detailed components, assembly and integration of the complete pod structure, and required testing.
Dorith Hakim, President and CEO of CPI Aero, said the award "reinforces airborne pods as a core growth engine for our Aerosystems Segment" and "strengthens our long-term backlog."
The Edgewood, N.Y.-based company reported a funded backlog of remaining performance obligations exceeding $95 million, an unfunded backlog of $400 million, and a total backlog of $495 million.
