Raytheon intelligence & space awards multi-million dollar contract modification to cpi aerostructures to produce pod prototypes

Edgewood, n.y., oct. 27, 2021 (globe newswire) -- cpi aerostructures, inc. (“cpi aero®”) (nyse american: cvu) announced today that raytheon intelligence & space, a raytheon technologies business, has increased the value of a previously awarded contract with cpi aero to produce pod structures. in 2019, cpi aero announced it was selected by raytheon intelligence & space for a contract to produce a pod structure for an undisclosed application with an estimated value of approximately $2.3 million. with this modification, the work scope has been modified and the quantity to be produced has been increased. the value of the contract is now expected to be approximately $8.0 million. no other details will be provided.
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