ORDERS RECEIVED IN TOTAL WORTH 2 BILLION NOK FOR DELIVERIES TO F-35 JOINT STRIKE FIGHTER

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  July 30, 2019 | International, Aerospace

  CPI Aero Announces $65.7 Million Air Force Contract for T-38 Aircraft Modification Kits

  July 29, 2019 - Edgewood, NY -- CPI Aerostructures, Inc. (“CPI Aero®”) (NYSE American: CVU) today announced that it has been awarded a $65.7 million indefinite-delivery/indefinite-quantity (IDIQ) contract from the United States Air Force 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 (“PC III”) and the Talon Repair Inspection and Maintenance (“TRIM”) program. The company also received its first delivery order under the contract valued at $3.4 million for which work will commence immediately. For more than 50 years, the Northrop T-38 has been the principal supersonic jet trainer used by the US Air Force. PC III and TRIM are expected to increase the structural service life of the T-38 beyond 2030. PC III is a three-phase aircraft modification program that began in 2011 to increase the structural service life of a certain number of T-38C Talon aircraft. Requirements for Phase I were fulfilled by Northrop Grumman Technical Services. In 2015, CPI Aero was awarded Phase 2 of PC III and is currently supplying kits and services to the USAF under that contract through 2021. Under the new contract announced today, CPI will support the final phase of PC III as well as TRIM. The TRIM program is a separate USAF structural modification effort that will extend the structural service life of T-38A and T-38 model types, as well as, T-38C models that were not modified during PC III. Douglas McCrosson, President and CEO of CPI Aero, stated, “We are honored to have been chosen by the U.S. Air Force to continue our work on PC III and begin work on TRIM , two programs that are essential to the critical mission of training our future military aviators. This contract recognizes our excellent past performance as a prime contractor to the USAF and our long history with the T-38 platform that dates back to 2001. It is a testament to our reputation as an exceptional supply chain partner and leverages the investments we have made in developing world class engineering, supply chain management and program management capabilities.” For the PCIII Phase III requirement, the period of performance is anticipated as a three-year ordering period, with an additional one year for delivery after an order is placed. For the TRIM requirement, the period of performance is anticipated as a 10-year ordering period, with an additional one year for delivery after an order is placed. About CPI Aero CPI Aero is a U.S. manufacturer of structural assemblies for fixed wing aircraft, helicopters and airborne Intelligence Surveillance and Reconnaissance and Electronic Warfare pod systems in both the commercial aerospace and national security markets. Within the global aerostructure supply chain, CPI Aero is either a Tier 1 supplier to aircraft OEMs or a Tier 2 subcontractor to major Tier 1 manufacturers. CPI also is a prime contractor to the U.S. Department of Defense, primarily the Air Force. In conjunction with its assembly operations, CPI Aero provides engineering, program management, supply chain management, and MRO services. 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 Aero's SEC reports, including CPI Aero's Form 10-K for the year ended December 31, 2018, and Form 10-Q for the three-month period ended March 31, 2019. CPI Aero® is a registered trademark of CPI Aerostructures, Inc. For more information, visit www.cpiaero.com, and follow us on Twitter @CPIAERO. Contact: Vincent Palazzolo Chief Financial Officer CPI Aero (631) 586-5200 www.cpiaero.com Investor Relations Counsel: LHA Investor Relations Sanjay M. Hurry/Jody Burfening (212) 838-3777 cpiaero@lhai.com www.lhai.com View source version on CPI Aero: http://www.cpiaero.com/cpi-aero-announces-%2465.7m-air-force-contract.html https://www.epicos.com/article/449408/cpi-aero-announces-657-million-air-force-contract-t-38-aircraft-modification-kits

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  June 16, 2024 | International, Security

  Pakistani Hackers Use DISGOMOJI Malware in Indian Government Cyber Attacks

  Pakistan-based UTA0137's cyber espionage campaign targeting Indian government with DISGOMOJI malware, exploiting DirtyPipe and Firefox scam.

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  August 30, 2019 | International, Aerospace

  SPACECOM is a go: Newest combatant command signed into existence

  By: Aaron Mehta WASHINGTON — The Pentagon has a new combatant command. With a twirl of the pen, Secretary of Defense Mark Esper signed into creation U.S. Space Command, the 11th war-fighting command for the Defense Department. “This is a landmark day, one that recognizes the centrality of space to America's national security and defense," President Donald Trump said during the event, held in the Rose Garden of the White House. “It's all about space,” Trump said, adding that for anyone looking to challenge the U.S. in orbit, “it's going to be a whole different ballgame.” Air Force Gen. Jay Raymond is the new head of SPACECOM; Army Lt. Gen. James Dickinson has been nominated to become the deputy commander. Upon Trump's signature, 287 individuals, pulled largely from U.S. Strategic Command, became the first members of the new command. Earlier in the day, Raymond and Stephen Kitay, deputy assistant secretary of defense for space policy, told reporters the creation of SPACECOM marked a new era in how the Defense Department approaches space. “We are at a strategic inflection point. There is nothing that we do [as a joint force] that isn't enabled by space. Zero,” Raymond said. “Our goal is to actually deter a conflict from extending into space. The best way I know how to do that is to be prepared to fight and win” should deterrence fail. SPACECOM's mission falls into four broad categories: To deter potential adversaries in space. To defend American assets in orbit. To deliver war-fighting capabilities (such as GPS) to other combatant commands. To develop joint war fighters to be able to operate in the space domain. The command will include a traditional headquarters staff, service components from all four armed services and two operational components: Combined Forces Space Component Command — focused on integrating space capabilities around the globe and throughout joint coalition partners — and Joint Task Force for Space Defense — focused on protecting and defending the war-fighting domain. “Space will not be an Achilles' heel. We will protect and defend and provide it for our way of life and our way of war,” Kitay added. Technically, this is a relaunch of SPACECOM, which existed in another form from 1985 through 2002. However, Raymond said, the two organizations are very different, with a “sharper” focus on the dangers from other nations in space a key part of the new incarnation. Those threats include kinetic and non-kinetic activities from competitors such as China and Russia — and any future competitors who might gain space capabilities in the future. As if to underscore the changing space environment, news broke Thursday that Iran's most recent attempt at a space launch appears to have failed on the ground. The effort was the third failed launch attempt this year, but the effort shows Iran is willing to invest significant national capital into putting assets into orbit. SPACECOM will continue to grow, including a final selection on the location of its headquarters. But questions remain about integration plans with an eventual Space Force, should Congress back its creation as a new military branch. The budget for SPACECOM in fiscal 2020 was $83.8 million, of which $75.6 million was shifted from previous organizations. Raymond warned that a continuing resolution this year would have a “significant impact” on the standing up of the new command. “We need to have stable budgets as we build this command. Continuing resolutions are never good, and it would be bad in this case as well,” he said. https://www.defensenews.com/space/2019/08/29/spacecom-is-a-go-newest-combatant-command-signed-into-existence/