By Chris Wack

CPI Aerostructures Inc. said Thursday it has received purchase orders totaling $14 million from Boeing Co. for structural assemblies for the A-10 Thunderbolt II under a previously announced Indefinite Delivery/Indefinite Quantity contract with a maximum ceiling value of $48 million.

Under the terms of the contract, CPI Aero will manufacture major structural subassemblies of the A-10 aircraft's wing.

CPI Aero said that including these new orders, it has now received $20 million in funding from Boeing for the production of A-10 re-wing structural assemblies and associated program start-up costs. First delivery is expected to be in late 2020 and the period of performance under current funding is expected to extend into 2022.

CPI Aero shares were up 24% to $3.63 in premarket trading.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

May 28, 2020 09:28 ET (13:28 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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