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Sypris Receives Releases Under New Multi-Year Contract

Full-Rate, Multi-System Production to Scale Beginning In 2022

Precision-Guided Anti-Ship Missile System

TAMPA, Fla.–Sypris Electronics, LLC, a subsidiary of Sypris Solutions, Inc. (Nasdaq/GM: SYPR), announced that it has recently received releases under a new, multi-year production contract that was first announced in February of this year. The order, which provides for Sypris to begin full-rate production beginning in 2022, calls for the manufacture and test of power supplies for an initial five systems to be supplied to a U.S. DOD contractor. Terms of the award were not disclosed.

The modules produced by Sypris will be integrated into an electronic warfare improvement program for the U.S. Navy. According to news sources, the upgrade will provide the capability to actively jam incoming missiles that threaten a warship, cue decoys and adapt quickly to evolving threats. The improvements to the electronic attack portion will provide integrated countermeasures against radio frequency-guided threats and extended frequency range coverage according to the U.S. Navy.

The system’s capability for non-kinetic electronic attack options can be further deployed in additional critical areas. From advanced communications to multi-role waveforms, the multi-function applications of the system will provide enhanced mission capabilities to the U.S. Navy Fleet while presenting opportunities for future reductions in cost, size, weight, and power according to the U.S. Naval Institute.

“We are pleased to receive this first production award under our new multi-year contract with this important customer,” said Mark R. Kane, Vice President & General Manager of Sypris Electronics. “We have provided manufacturing and engineering services for this critical program for years, originating with the Engineering and Manufacturing Development phase, before transitioning into Low-Rate Initial Production and now into Full-Rate Production. We are certainly proud to increase our support for this strategic, long-term program of the U.S. Navy.”

Sypris Electronics is a trusted provider of engineering and manufacturing services for complex, mission-critical electronic solutions for customers in the Defense, Space, Deep Sea Communications, and Industrial markets. Backed by over 50 years of experience, the Company specializes in producing electronics for high-cost-of-failure applications. For more information, please visit www.sypriselectronics.com.

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