Business
Sypris Wins Award for Permian Highway Pipeline Expansion Project
Will Supply High-Pressure Closures Weighing up to 20,000 Pounds Each LOUISVILLE, Ky.--(BUSINESS WIRE)-- Sypris Technologies, Inc., a subsidiary of Sypris
About this update from Sypris Solutions, Inc.
[{"type":"text","content":"\nWill Supply High-Pressure Closures Weighing up to 20,000 Pounds Each\n\n LOUISVILLE, Ky.--(BUSINESS WIRE)--\nSypris Technologies, Inc., a subsidiary of Sypris Solutions, Inc. (Nasdaq/GM: SYPR), announced today that it has recently received an award for specialty high-pressure closures for use in the Permian Highway Pipeline Expansion Project. Shipments under this award are expected to be completed by year-end. Terms of the order were not disclosed.\n\nThe Permian Highway Expansion Project (the “Project”) will provide an outlet for increased natural gas production from the Permian Basin to growing market areas along the U.S. Gulf Coast, including new LNG facilities, according to news sources. The Project is expected to increase the capacity of the Permian Highway Pipeline by approximately 550 million cubic feet per day.\n\nAccording to news releases, the expansion couldn’t come at a more critical time and is expected to foster future natural gas production growth in West Texas and provide several LNG facilities along the Texas Gulf Coast with a more affordable, reliable supply. The Project is also expected to alleviate transportation constraints out of the Permian Basin in support of growing domestic and global energy demands. The Project is proposed to be in-service by late 2023.\n\nSypris has agreed to manufacture and supply its Tube Turns®-branded specialty, high-pressure Tool-less® and Threaded closures for use on the filtration systems for the Project. These closures will range in size from 12” to 70” in diameter and will weigh from an estimated 250 pounds up to as much as 20,000 pounds each and will be rated to a pressure of 1,541 psi.\n\nBrett Keener, General Manager, commented, \"Sypris continues to be a leader in supplying high-pressure specialty closures to support major energy projects globally. By leveraging our extensive engineering design and manufacturing expertise, we believe we are uniquely qualified to support these types of demanding requirements. We are proud to be a part of a project with a goal to help provide reliable energy and improve lives around the world.\"\n\nSypris 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 petrochemi...