Home  »  Analyst Snapshot   »  Subsidiaries of Sypris Solutions, Inc. (SYPR) Won ...

Subsidiaries of Sypris Solutions, Inc. (SYPR) Won Multiple Orders

Sypris Solutions, Inc.’s (SYPR) subsidiary Sypris Electronics, LLC recently received multiple contract awards from a prime contractor of the United States Department of Defense.

The contract awards are to manufacture a range of mission-critical electronic assemblies to be used by different programs of the US government. The subsidiary company is likely to be commencing production of the electronic assemblies this year through 2021. The company or its subsidiary did not disclose the terms of the agreements.

Production of multiple electronic assemblies for a variety of munitions dispensing systems is included in the awards. Winning those contracts is another milestone for Sypris in its DoD-related business, said Jim Long, Vice President & General Manager of Sypris Electronics. The customer awarded the contracts is a leading contractors in this military application and company’s technical and operational expertise played important role in winning these awards. For having this opportunity is not only exciting for the company but is also a way to further strengthen its collaboration with this prime customer.

Company’s another subsidiary Sypris Technologies, Inc. have also received an order in August for its Tube Turns Tool-less closures. With immediate start of the production at the time, the order is likely to be completing before end of this year. Terms of that order were also not been made public by the company or its subsidiary.

Securing this order is also exemplifies a project which could leverage Sypris’ expertise in catering demanding requirements to engineer high-quality closures to remain supporting key energy projects around the globe, said Brett Keener, General Manager of Sypris Technologies. Management at Sypris Technologies is excited to be part of advanced energy infrastructures with such important global projects, added Keener.

The order for Sypris’ Tube Turns Tool-less closures was made to be utilized in the Alberta XPress Project (AXP).

Most Popular

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Related Posts

3 Top Biotech Stocks to Watch

Companies in the biotechnology industry work on the development of drugs and diagnostic technologies to treat medical conditions and diseases. Most Biotech products must undergo