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.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts