Business
Sypris Wins Contract With Leonardo DRS
Electronic Assemblies for Naval Application TAMPA, Fla.--(BUSINESS WIRE)-- Sypris Electronics, LLC, a subsidiary of Sypris Solutions, Inc. (Nasdaq/GM: SYPR),
About this update from Sypris Solutions, Inc.
[{"type":"text","content":"\nElectronic Assemblies for Naval Application\n\n TAMPA, Fla.--(BUSINESS WIRE)--\nSypris Electronics, LLC, a subsidiary of Sypris Solutions, Inc. (Nasdaq/GM: SYPR), announced today that it has received an initial contract award from the Leonardo DRS Naval Electronics business unit to manufacture and test electronic assemblies for a shipboard system. Production will begin in 2020. Terms of the agreement were not disclosed.\n\n\n“Sypris Electronics has extensive experience working on mission critical Navy programs,” said Jim Long, Vice President & General Manager of Sypris Electronics. “Leonardo DRS is an industry leader in Naval Electronics and the opportunity to support them on this program is an honor for Sypris Electronics. Our collaborative approach in providing a tailored manufacturing and test solution was an important element to this win. We are excited to support Leonardo DRS on this program and to expand our relationship with Leonardo DRS.”\n\n\nSypris 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.\n\n\nForward-Looking Statements\n\n\nThis press release contains “forward-looking” statements within the meaning of the federal securities laws. Forward-looking statements include our plans and expectations of future financial and operational performance. Such statements may relate to projections of the Company’s revenue, earnings, and other financial and operational measures, our liquidity, our ability to mitigate or manage disruptions posed by COVID-19, and the impact of COVID-19 and economic conditions on our future operations, among other matters. COVID-19 continues to spread throughout the United States and other countries across the world, and the duration and severity of its effects are current...