CPI Aerostructures Authorized by Raytheon Intelligence & Space to Begin Production Phase of Next Generation Jammer Mid-Band Program
November 18, 2021
CPI Aerostructures, Inc. (“CPI Aero®” or the “Company”) (NYSE American: CVU) announced today that Raytheon Intelligence & Space authorized CPI Aero to begin manufacture of pod structures and air management system components for the initial production phase of the Next Generation Jammer Mid-Band (NGJ-MB) program. The binding notification provides approximately $10.3 million in funding to begin work and establishes a maximum value of $20.6 million for a contract that is expected to be finalized before the end of 2021. Deliveries of these new pods and air management system components are expected to occur from late 2022 through 2023.