Sypris Wins Defense Contract Award
Sypris Electronics, LLC, a subsidiary of Sypris Solutions, Inc. (Nasdaq/GM: SYPR), announced today that it has recently received a follow-on award from a U.S. DoD prime contractor to manufacture and test electronic power supply modules for a mission-critical, long range, precision-guided anti-ship missile system. Production will begin in 2021. Terms of the agreement were not disclosed.
The program is designed to meet the needs of U.S. Navy and Air Force warfighters. The missile system employs precision routing and guidance, day or night in all weather conditions and is designed to detect and destroy specific targets within groups of ships by employing advanced technologies that reduce dependence on intelligence, surveillance and reconnaissance platforms, and GPS navigation in contested environments. The program provides range, survivability and technology that no other current system provides according to news releases.
“This is a follow-on award for a new program that is currently ramping up into production volumes,” said Jim Long, Vice President & General Manager of Sypris Electronics. “Our customer is a worldwide leader in the development and delivery of advanced technologies for the commercial and military electronics markets. Our technical and operational experience in successfully scaling early life cycle products in a collaborative way with our customer were key to this win. We are excited to have this opportunity to expand our relationship with this important customer.”
Sypris Electronics is a trusted provider of electronic solutions, addressing customers’ needs for building complex, mission-critical electronic and electro-mechanical devices and integrated systems. Backed by 50 years of experience, Sypris’ engineering and manufacturing services span our customers’ product life cycle all within a culture of continuous improvement and Six Sigma/Lean thinking. Partners from multiple agencies and tier one companies in Military (DoD), Space, Medical, Undersea, and Industrial markets team with Sypris to deliver high-reliability electronics built with strict adherence to regulated requirements. For more information, please visit www.sypriselectronics.com.