CPI Aerostructures Retains the Equity Group to Provide Investor Relations Services.Business Editors EDGEWOOD, N.Y.--(BUSINESS WIRE)--March 11, 2003 CPI Aerostructures, Inc. (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 ) today announced that it has retained The Equity Group Inc. of New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. to provide investor relations and financial public relations Financial public relations Public relations division of a company charged with cultivating positive investor relations and proper disclosure information. services. CPI'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. , Edward J. Fred stated, "Having recently completed a 2.3 million share public offering resulting in net proceeds of $7,764,000, we paid off substantially all of our debt and were left with approximately $2.6 million in cash as additional working capital to grow our business. As a result, CPI is in a far better competitive position to achieve greater success as we bid on larger and more contracts." Mr. Fred continued, "Thus we believe the time is right to get additional exposure for our business, track record, and improving financial outlook to a larger and more diverse group of investment professionals. The Equity Group came highly recommended as a respected, experienced and results-driven investor relations firm. We were impressed by the caliber, longevity, and references of their clients." The Equity Group Inc., which was founded in 1974, provides a full spectrum of investor and financial public relations services primarily to growth companies listed on Nasdaq, and the American and New York Stock Exchanges. Founded in 1980, CPI Aerostructures 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 provides engineering, technical and program management services. Among the key programs that CPI supplies are the C-5A C-5A Galaxy (USAF cargo aircraft) Galaxy cargo jet, the T-38 Talon jet trainer and 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. The above statements include forward looking statements that involve risks and uncertainties, which are described from time to time in CPI's SEC reports, including CPI's Form 10-KSB for the year ended December 31, 2001, and CPI's Form 10-QSB for the quarters ended March 31, 2002, June 30, 2002, and September 30, 2002. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion