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Benzinga
Benzinga
Business
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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