Benzinga | Oct 27, 2021 09:07AM EDT

CPI Aerostructures Awarded $2.3M Contract From Raytheon Intelligence & Space

CPI Aerostructures, Inc. ("CPI Aero(r)") (NYSE: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.