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Benzinga

Shivani Kumaresan

Sypris Bags Follow-On Contract For Electronic Warfare System Upgrade

Department of Defense Nasdaq United States

Sypris Solutions Inc (NASDAQ:SYPR) subsidiary, Sypris Electronics LLC, has bagged a multi-year, follow-on award from a U.S. Department Of Defense contractor to produce and test multiple power supply modules. Terms of the agreement were not disclosed.
Sypris will produce power supply modules to upgrade the electronic warfare suite for an important U.S. fighter aircraft program.
The upgrade is intended to improve the aircraft's capability to autonomously and automatically detect, identify and locate radio frequency threats.
The company expects full-rate production beginning in 2022.
Price Action: SYPR shares are trading higher by 2.63% at $2.34 on the last check Wednesday.

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