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Benzinga
Benzinga
Business
Akanksha Bakshi

CPI Aero Secures $4M Contract From Collins For Airborne Pod System

Collins (Organization) CPI NYSE CVU Collins Aerospace CPI Aerostructures Inc
  • CPI Aerostructures Inc (NYSE:CVU) has secured a $4 million purchase order from Collins Aerospace, a unit of Raytheon Technologies Corp (NYSE:RTX), to manufacture the Tactical Synthetic Aperture Radar (TacSAR) intelligence, surveillance, and reconnaissance (ISR) system.
  • TacSAR is a long-range synthetic aperture radar system designed for overland and maritime reconnaissance and surveillance.
  • Under this new contract, CPI will complete non-recurring engineering (NRE) and tool development and build one prototype pod that Collins will use to complete the required test and evaluation of the TacSAR system.
  • Price Action: CVU shares are trading higher by 3.75% at $2.77 and RTX lower by 0.50% at $100.24 on the last check Thursday.
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