Jumps on resolving dispute with CPI Aerostructures

Air Industries

29/12/2020 11:14

** Aerospace and defense company's shares  AIRI.A  up 16.9%
at $1.4 premarket 
    ** Co and CPI Aerostructures  CVU.A  agree to settle a
working capital dispute that arose from CVU's acquisition of
Welding Metallurgy Inc from AIRI in 2018
    ** Under the agreement, AIRI to pay about $1.4 mln to CVU
    ** Up to Monday's close, stock down ~46% this year
    

 (Reporting by Shivani Kumaresan in Bengaluru)
 ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780))