Sypris Bags Multi-Year Contract Extension From Global Truck OEM

Sypris Solutions Inc (NASDAQ:SYPR) subsidiary has entered a multi-year contract extension with a commercial vehicle original equipment manufacturer (OEM). The terms of the agreement were not disclosed.
The company will provide drivetrain components to the OEM manufacturer for use in the production of medium and heavy-duty commercial vehicles.
The components produced by Sypris are vital to the drive axles of the vehicles.
"We are pleased to extend our strategic relationship with this key customer which is entering its 18th year," said Paul Larochelle, VP, and General Manager.
Price Action: SYPR shares are trading higher by 1.89% at $2.30 on the last check Tuesday.