Sypris Technologies, Inc. (Sypris), a subsidiary of Sypris Solutions, Inc. (Nasdaq/NM: SYPR), announced today that it has entered into a new long-term supply agreement to provide drivetrain components to Sisamex for its commercial vehicle drive axle assembly operation in Escobedo, Mexico. Components for the agreement are produced at Sypris’ operations located in Louisville, Kentucky. Terms of the agreement were not disclosed.
Commenting on the announcement, Paul Larochelle, President of Sypris Technologies said, “We are pleased to expand our strategic relationship with Sisamex, which has grown progressively over the years. We will continue to support Sisamex with advanced manufacturing systems to ensure that this important customer continues to benefit from world-class quality, on-time delivery and cost-competitive products.”
Sypris Technologies is a premier manufacturer and supplier of drivetrain and other critical components for the commercial vehicle, automotive, recreational vehicle, mining, agriculture and energy markets. Sypris is headquartered in Louisville, Kentucky. With facilities located throughout North America, Sypris continues to meet the needs of the industry after more than 90 years of service.
Sisamex is a 50-50% joint venture of Quimmco and Meritor, Inc. The company is a world class manufacturer of automotive components for commercial vehicles. Sisamex manufactures axles, brakes, and related components & assemblies for heavy and medium duty trucks. The production plant is located in Escobedo, Nuevo Leon and has around 1,400 employees. The company supplies its products, through Meritor, to important original equipment manufacturers such as Daimler Truck, International, Kenworth, Mercedes-Benz and Meritor, among others. In addition, the company is a supplier of components for Meritor and its customers on a global basis.Sypris Solutions is a diversified provider of technology-based outsourced services and specialty products. The Company performs a wide range of manufacturing and technical services, typically under multi-year, sole-source contracts with major corporations and government agencies in the markets for aerospace and defense electronics and truck components and assemblies. For more information about Sypris Solutions, visit its Web site at www.sypris.com.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV