Awarded $1.166 Million Contract by Northrop Grumman Integrated Systems to Support U.S. Navy's ALMDS Program
Monday November 14, 8:45 am ET
EDGEWOOD, N.Y.--(BUSINESS WIRE)--Nov. 14, 2005--CPI Aerostructures, Inc. ("CPI Aero") (AMEX: CVU - News) today announced that it was awarded a contract by Northrop Grumman Integrated Systems ("NGIS") to manufacture the pod structural housing for the U.S. Navy's airborne-laser mine-detection system ("ALMDS"). ALMDS uses light-detection and ranging technology to detect, classify and localize floating and near-surface moored sea mines so that ships can maneuver through clear sea lanes. Contained in external equipment pods mounted on a Navy MH-60S helicopter, the mine-detection system also provides accurate mine-location information for follow-on neutralization by other systems such as NGIS's rapid airborne mine-clearance system ("RAMICS".) The pod structural housings to be built by CPI Aero are pressurized and thermally conditioned structural assemblies that contain the ALMDS pod electronics.
In April 2000, NGIS was awarded a three-year, $40 million contract for engineering and manufacturing development of the ALMDS system for the U.S. Navy. On June 16, 2005, NGIS announced that the program had reached Milestone C, signifying the end of system development and demonstration, and is now poised to enter its production phase. NGIS's purchase order to CPI Aero, valued at $1,166,000, is for the manufacture of three pod structural housings and associated tooling related to the production phase. Defense Daily Network has reported that the U.S. Navy plans to order a total of 57 ALMDS systems by 2012.
CPI Aero's President & CEO, Edward J. Fred stated, "This contract award is important to us for several reasons. First, we are continuing to build a relationship with a solid Northrop Grumman team. Second, CPI Aero's capabilities are again being recognized for an important U.S. Navy program. This confirms our belief, initially expressed last year with the RAMICS award, that we have added a new dimension to our business. Finally, the revenue potential of this program is significant." |
