Sypris Solutions subsidiary awarded long-term contract extension with truck OEM

Sypris Technologies, a subsidiary of Sypris Solutions, announced that it has entered into a long-term, sole-source extension to its current supply agreement with one of the world’s largest commercial vehicle manufacturers. The agreement provides for a continuation of Sypris’ Ultra Axle Shafts for use in the assemblies of the customer’s branded drive axles for medium and heavy-duty trucks. The components produced by Sypris are essential to the performance of the drive axles of heavy-duty vehicles. The new agreement is effective immediately and once completed represents over 25 years of continuous supply of products to this customer and its subsidiaries.