April 14, 2010 (FinancialWire) — CPI Aerostructures, Inc. (AMEX: CVU) said that the Boeing Defense, Space & Security unit of The Boeing Co. (NYSE: BA) has expanded the scope of work that CPI Aero will perform under its previously reported long-term requirements contract to support Boeing's A-10 wing replacement program.

In June 2007, Boeing received an Air Force contract worth up to $2 billion to produce up to 242 enhanced wings for the United States Air Force's A-10 "Thunderbolt" attack jet. The initial $70 million contract to CPI Aero from Boeing was for the production of leading edges, wingtips, trailing edges, main landing gear pods and various other structures.

In May 2009 the contract from Boeing to CPI Aero was increased to around $71 million to add installation of fueling/de-fueling subsystem into the main landing gear pod assembly. Since May of 2009, Boeing has added additional structural assemblies and subsystem installations to the CPI Aero contract.

These additions, which are valued at $10 million over the 242 aircraft program, include leading edge pylon covers, center trailing edge wedge fittings, lower outer trailing edge panels, wingtip covers, wingtip light installations and aileron light installations.

CPI Aero said the contract between Boeing and the company, as revised, has increased in value to around $81 million, of which CPI Aero has received $14.7 million of orders to date.

New York-based CPI Aero is engaged in the contract production of structural and other aircraft parts for prime defense contractors, the U.S. Air Force, and other branches of the armed forces.

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