PALO ALTO, Calif. - October 26, 2015 - The Econco Division of Communications & Power Industries LLC (CPI) has been awarded a $9.7 million sole-source multiyear contract for the production of new power grid devices to support the U.S. Navy's Aegis radar systems.
The two-year, firm fixed-price contract was awarded by the U.S. Defense Logistics Agency Land and Maritime in Mechanicsburg, Pa. Work on the contract will be completed in Woodland, Calif.
CPI Econco Division has previously provided rebuilt power grid devices for Aegis radar systems and has twice been awarded the U.S. Navy Aegis Excellence Award for Outstanding Performance on the program. The Aegis radar systems are the single largest defense program supported by CPI.
Established in 1969 to provide high-quality, reasonably priced repaired power grid devices to AM and FM radio broadcasting stations, CPI Econco Division manufactures rebuilt power grid devices for the radar, communications, medical and industrial markets. Its product portfolio also includes rebuilt magnetrons, klystrons, traveling wave tubes (TWTs) and inductive output tubes (IOTs). Recently, CPI Econco Division has expanded its production capabilities to include the manufacturing of new continuous-wave magnetrons at power levels ranging from 30 kW to 75 kW and high-power magnetrons at power levels ranging from 100 kW to 125 kW for use in industrial applications.
About Communications & Power Industries LLC
Communications & Power Industries LLC (CPI), headquartered in Palo Alto, California, is a subsidiary of CPI International Holding Corp. and CPI International, Inc. CPI develops, manufactures and globally distributes components and subsystems used in the generation, amplification, transmission and reception of microwave signals for a wide variety of systems including radar, electronic warfare and communications (satellite and point-to-point) systems for military and commercial applications, specialty products for medical diagnostic imaging and the treatment of cancer, as well as microwave and RF energy generating products for various industrial and scientific pursuits.
Certain statements included above constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements provide our current expectations, beliefs or forecasts of future events. These statements are not guarantees of future performance. Forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual events or results to differ materially from the results projected, expected or implied by these forward-looking statements. These factors include, but are not limited to, competition in our end markets; our significant amount of debt; changes or reductions in the U.S. defense budget; currency fluctuations; goodwill impairment considerations; customer cancellations of sales contracts; U.S. Government contracts; export restrictions and other laws and regulations; international laws; changes in technology; the impact of unexpected costs; the impact of a general slowdown in the global economy; the impact of environmental laws and regulations; inability to obtain raw materials and components; and the impact of unexpected results of, or issues in connection with, dispositions and acquisitions. These and other risks are described in more detail in our periodic filings with the Securities and Exchange Commission. All future written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. We undertake no duty or obligation to (i) publicly revise any forward-looking statement to reflect circumstances or events occurring after the date hereof, (ii) to reflect the occurrence of unanticipated events or changes in our expectations or (iii) to publicly correct or update any forward-looking statement if CPI becomes aware that such statement is not likely to be achieved.
Amanda Mogin, Communications & Power Industries, investor relations, 650.846.3998, firstname.lastname@example.org