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TAMPA, Fla. - Sypris Electronics, LLC, a subsidiary of Sypris Solutions, Inc. (NASDAQ:SYPR), has received follow-on contract awards from a leading global provider of subsea cable systems, according to a company press release. The $47 million market cap company has demonstrated strong momentum with a 14% year-to-date stock price increase.
Under the agreement, Sypris will manufacture and test electronic power supply modules, optical processing units, and branching units for multiple subsea communication networks. Production has already begun and is expected to continue through 2026.
The electronic assemblies are designed for use in ultra-long-haul subsea networks that span thousands of kilometers beneath ocean surfaces, connecting major global internet exchange points. These systems are being developed to support increasing global demand for digital services and data consumption.
"The subsea electronics sector is a strong fit with our strategic focus on mission-critical applications," said Mike Sedgwick, Vice President and General Manager of Sypris Electronics.
The company specializes in producing electronics for high-cost-of-failure applications across defense, space, deep sea communications, and industrial markets. Sypris Electronics has over 50 years of experience in engineering and manufacturing complex electronic solutions.
Financial terms of the contracts were not disclosed in the press release statement.
In other recent news, Sypris Technologies, a subsidiary of Sypris Solutions, Inc., has signed a long-term agreement to supply drivetrain components for a new electric heavy-duty vehicle from a leading global truck manufacturer. This contract establishes Sypris as the exclusive North American provider for these components, with deliveries set to commence in 2026. Additionally, Sypris Solutions conducted its annual stockholders’ meeting in Louisville, Kentucky, where several significant proposals were addressed. The election of Class II directors resulted in Gary L. Convis and Robert Sroka retaining their positions, with Convis receiving 12,158,191 votes in favor and Sroka securing 12,225,849 votes in favor. The meeting also included the approval of the 2025 Sypris Omnibus Plan and advisory votes on executive compensation. These developments highlight the company’s strategic moves in both its business operations and corporate governance.
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