CPI Aero Receives Supplier of the Year Award from Northrop Grumman.EDGEWOOD, N.Y. -- CPI Aerostructures, Inc. ("CPI Aero") (AMEX AMEX
See: American Stock Exchange : CVU CVU Canadian Virtual University
CVU Cerner Virtual University
CVU Corvo Island, Azores, Portugal (airport code)
CVU Case Value Update ) has been recognized by Northrop Grumman Corporation's (NYSE NYSE
See: New York Stock Exchange : NOC) Integrated Systems sector as a 2005 Supplier of the Year for its work on the RAMICS RAMICS Rapid Airborne Mine Clearance System and ALMDS ALMDS Airborne Laser Mine Detection System programs. This is the first year CPI Aero has been selected as a Supplier of the Year by Northrop Grumman.
CPI Aero was one of eight companies to receive a Supplier of the Year designation in this, the second year of the awards program. Edward J. Fred, CPI Aero's President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , received the award on behalf of the Company on June 27, 2006 at a suppliers' awards luncheon sponsored by Northrop Grumman in Manhattan Beach, California Manhattan Beach is a city located in southwestern Los Angeles County, California, USA. The population was 33,852 at the 2000 census. Of a rotating City Council of five members, Jim Aldinger is the current mayor. .
Mr. Fred stated, "CPI Aero is proud to be recognized by the Major Structures Strategic Sourcing Team as its supplier of the year. We have been informed that we performed in an exemplary manner on the RAMICS and ALMDS programs. We were responsible for developing Program Management and Integration plans that took these programs from engineering to production. Our design advice to Northrop Grumman was instrumental in the successful completion and acceptance of the product."
Northrop Grumman developed its Supplier of the Year Award program to recognize the critical role that its suppliers play in the delivery of high-performance products that the company produces for U.S. and international customers. The program is an outgrowth of the company's strategic sourcing initiative, an effort started in summer 2003 to build stronger long-term relationships between Northrop Grumman and its suppliers.
Under this initiative, every supplier is "graded" quarterly on parameters such as quality, on-time delivery and participation in affordability initiatives. To be considered for a Supplier of the Year award, a company must demonstrate consistent superior performance in delivering products and services to Northrop Grumman.
Northrop Grumman is the prime contractor for a variety of tactical and strategic airborne systems, including the U.S. Air Force's B-2 stealth bomber, the Joint Surveillance Target Attack Radar System, and Global Hawk unmanned aerial reconnaissance system; and the U.S. Navy's E-2 family of early warning and battle management aircraft, among others. It also serves as a major subcontractor to Lockheed Martin on the F-35 Joint Strike Fighter program The Joint Strike Fighter (JSF) became synonymous with the later F-35 Lightning II, however until 2001 the term was applied to the competition between the Boeing X-32 and Lockheed Martin X-35. , and to Boeing on the Navy's F/A-18 program.
"The support of our suppliers is critical to our sectors ability to produce and deliver affordable, high performance products," said Scott J. Seymour, Northrop Grumman corporate vice president and president of the Integrated Systems sector. "Their commitment, innovation, integrity and sustained levels of excellence play a substantial role in our success."
About CPI Aero
CPI Aero is engaged in the contract production of structural aircraft parts principally for the U.S. Air Force and other branches of the armed forces. In conjunction with its assembly operations, CPI Aero provides engineering, technical and program management services. Among the key programs that CPI Aero supplies are the C-5A C-5A Galaxy (USAF cargo aircraft) Galaxy cargo jet, the T-38 Talon jet trainer, the A-10 Thunderbolt attack jet, the E-3 Sentry AWACS AWACS (Airborne Warning and Control System)
Mobile, long-range radar surveillance-and-control centre for air defense. Used by the U.S. Air Force since 1977, AWACS is mounted in a specially modified Boeing 707 aircraft, with its main radar antenna affixed to a rotating dome. jet and the MH-60S mine countermeasure helicopter.
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, 2005 and Form 10-Q for the quarter ended March 31, 2006.