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Sypris Awarded Additional Volume With Global Truck OEM
New Drivetrain Components for Heavy-Duty Commercial Vehicles LOUISVILLE, Ky.--(BUSINESS WIRE)-- Sypris Technologies, Inc., a subsidiary of Sypris Solutions,
About this update from Sypris Solutions, Inc.
[{"type":"text","content":"\nNew Drivetrain Components for Heavy-Duty Commercial Vehicles\n\n LOUISVILLE, Ky.--(BUSINESS WIRE)--\nSypris Technologies, Inc., a subsidiary of Sypris Solutions, Inc. (Nasdaq/GM: SYPR), announced today that it has entered into an amendment to its current supply agreement with Detroit Diesel Corporation (“DDC”), a subsidiary of Daimler Truck North America. Daimler Truck North America is itself a subsidiary of Daimler Truck Holding AG (“Daimler Truck”), one of the world’s largest commercial vehicle manufacturers.\n\nThe amendment adds a new series of part numbers to its agreement with DDC for drivetrain components used in DDC’s Detroit®-branded drive axles. The components produced by Sypris are essential to the performance of the drive axles of Freightliner’s heavy-duty vehicles. Production of these additional part numbers under the amended contract are expected to commence in early 2023. No other terms or conditions of the agreement were disclosed.\n\nCommenting on the announcement, Federico Aviles, Vice President and General Manager of Sypris Technologies Mexico, S. de R.L. de C. V., stated, “We are pleased to expand our strategic relationship with Daimler Truck, which is now entering its 18th year. Daimler Truck is a global leader in the commercial vehicle industry and we are proud to serve as a partner by supplying quality products to support its reputation for high performance and durability.”\n\nSypris Technologies, Inc. is a premier manufacturer and supplier of drivetrain and other critical components for the commercial vehicle, automotive, recreational vehicle, mining, agriculture, industrial and energy markets. Sypris is headquartered in Louisville, Kentucky. Through its operations in North America, Sypris continues to meet the needs of the industry after more than 90 years of service. For more information about the Company, visit its Web site at www.sypris.com.\n\nDetroit® is a single-source trucking business solution that offers mid-range and heavy-duty diesel engines, ePowertrains, transmissions, axles, safety systems, and connected vehicle services for on-highway and vocational commercial markets. Detroit products are sold and serviced through a network of hundreds of locations in North America. For more information, or to find the nearest Detroit location, visit DemandDetroit.com. Detroit is a brand of Detroit Dies...