CPI Aerostructures Promotes Jay Mulhall to Vice President of Business Development

 

EDGEWOOD, NY – July 5, 2018 – CPI Aerostructures, Inc. (“CPI Aero®” or the “Company”) (NYSE American: CVU) today announced the promotion of James “Jay” Mulhall, Senior Director of Business Development and Strategy, to Vice President of Business Development effective immediately. Mulhall succeeds Robert “Bob” Muller, who previously advised the Company of his intent to reduce his day-to-day responsibilities and will assume a transitional, supportive role to Mulhall. Mulhall joined the Company in February 2018 following his retirement from Northrop Grumman after a 33-year career at the company.

 

Douglas J. McCrosson, president and CEO of CPI Aero, said, “Jay’s extensive experience and deep industry relationships have already been tremendous assets to the Company, and this promotion concludes a succession plan set into motion with his hiring. Jay is uniquely qualified to supplement our business development and sales efforts with the opening of new avenues of growth where we anticipate the U.S. and other countries will increase spending, particularly in electronic warfare, intelligence, surveillance and reconnaissance and autonomous systems. For the past 11 years, Bob has been an integral part of CPI Aero’s success and I am pleased that he will continue to assist Jay going forward.”

 

Mr. Mulhall stated, “I am excited for this expanded role and the opportunity to lead our business development and sales efforts at a time when defense industry fundamentals are strengthening. I look forward to contributing to the Company’s future growth and success.”

 

About CPI Aero

CPI Aero is a U.S. manufacturer of structural assemblies for fixed wing aircraft, helicopters and airborne Intelligence Surveillance and Reconnaissance pod systems in both the commercial aerospace and national security markets. Within the global aerostructure supply chain, CPI Aero is either a Tier 1 supplier to aircraft OEMs or a Tier 2 subcontractor to major Tier 1 manufacturers. CPI also is a prime contractor to the U.S. Department of Defense, primarily the Air Force. In conjunction with its assembly operations, CPI Aero provides engineering, program management, supply chain management, and MRO services. CPI Aero is included in the Russell Microcap® Index.

 

The above statements include forward looking statements that involve risks and uncertainties, which are described from time to time in CPI Aero's SEC reports, including CPI Aero's Form 10-K for the year ended December 31, 2017, and Form 10-Q for the three-month period ended March 31, 2018.

 

CPI Aero® is a registered trademark of CPI Aerostructures, Inc.

 

For more information, visit www.cpiaero.com, and follow us on Twitter @CPIAERO.

 

Contact:

Vincent Palazzolo

Chief Financial Officer

CPI Aero

(631) 586-5200

www.cpiaero.com

 

Investor Relations Counsel:

Sanjay M. Hurry

(212) 838-3777

cpiaero@lhai.com

www.lhai.com

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