CPI Aerostructures (CVU)- Take a Look (was CPI) Message Board

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Technology Stocks : CPI Aerostructures (CVU)- Take a Look (was CPI)

CVU 3.290

-1.8%

Aug 13 4:00 PM EDT

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To: CJ Owen Critchley who started this subject	1/2/2002 7:25:20 AM
From: leigh aulper	of 213

CPI Aerostructures Announces Promotion of New President; Final 2001 Aerospace Contract Awards EDGEWOOD, N.Y., Jan. 2 /PRNewswire/ -- CPI Aerostructures, Inc. (Amex: CVU - news) announced today that Mr. Edward J. Fred has been promoted to the position of President, in addition to his current responsibilities as Chief Financial Officer and Secretary of the Company. Mr. Arthur August, the former President, will retain his positions as Chairman of the Board and Chief Executive Officer. ``Mr. Fred has been with CPI for nearly seven years, performing at an exceptional level. This promotion is the progression that was planned when he was appointed Executive Vice President in May 2000,'' stated CPI's CEO Arthur August. ``This transition provides Ed with the full responsibility for the daily operations of the Company, as well as interaction with the banking, financial and investment communities.'' Additionally, the Company announced that it finished the year with approximately $19 million in new contract awards in the aircraft segment, a 47% increase over the amount it received in 2000. ``This marks the fifth consecutive year in which we've shown double-digit growth in contract awards in the aircraft segment. We are confident that this trend will continue, and look forward to this segment leading the Company forward for the foreseeable future,'' concluded Mr. August.

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