Sypris Receives Order for Atoka Water Project for Oklahoma City

Sypris Technologies, Inc., a subsidiary of Sypris Solutions, Inc. (Nasdaq/GM: SYPR), announced today that it has recently received an order to supply 72-inch Insulated Joints for use in the expansion of the Atoka Water Pipeline for the Oklahoma City Water Utilities Trust. Shipments under this award are expected to start in 2023 and finish in 2024. Terms of the order were not disclosed.

According to news sources, the second Atoka Pipeline is being built to provide Oklahoma City and its surrounding areas with potable water. The project is the largest municipal water infrastructure project in the history of the state and includes a new 100-mile-long, 72-inch diameter pipeline that will transport raw water from Lake Atoka to Lake Stanley Draper in Oklahoma City, where it will be treated and delivered to more than 1.4 million people in central Oklahoma. The pipeline is slated to cost $800 million and move more than 100 million gallons of water per day.

Sypris has agreed to manufacture and supply its Tube Turns-branded monolithic Insulated Joints for cathodic protection of the new 72-inch polyethylene-coated and cement-mortar lined steel pipeline. These Insulated Joints will be 72 inches in diameter and will be rated to a pressure of 300 psi.

Brett Keener, General Manager, commented, "Sypris continues to be a leader in supplying engineered products to support major infrastructure projects globally. By leveraging our extensive engineering design and manufacturing expertise, we believe we are uniquely qualified to support these types of demanding projects. We are proud to be a part of a project with a goal of providing reliable water infrastructure which is essential to public health and our way of life."

Sypris Technologies, Inc., Tube Turns Products, is a global leader in the manufacture of custom engineered products for high pressure critical applications serving multiple industries such as the oil and gas pipeline, hydrocarbon and petrochemical processing, food, pharmaceutical, water and utility since 1927. Headquartered in Louisville, Kentucky, the Company's products are marketed worldwide, and can be found in projects ranging from the Trans Alaska Pipeline and Strategic Petroleum Reserve in the U.S. to the Tengiz Oil Field in Kazakhstan and the Bonny Island Gas Field in Nigeria. For more information about the Company, visit its Web site at www.sypris.com.