Sypris to Supply Axle Shafts on Mack®
Proprietary Axles
LOUISVILLE, Ky.--(BUSINESS WIRE)--Nov. 13, 2015--
Sypris Technologies, Inc. (Sypris), a subsidiary of Sypris Solutions,
Inc. (Nasdaq/GM: SYPR), announced today that it has been awarded a
long-term contract with Volvo Group North America LLC and Mack Trucks,
Inc. for the supply of axle shafts for use on Volvo’s Mack branded axle
through 2018.
Commenting on the announcement, Paul Larochelle, Vice President of Sales
and Strategic Initiatives, stated, “Sypris has been providing axle
shafts to Volvo for over a decade as a tier two supplier. We are pleased
to continue the supply of these components now directly to Volvo as a
tier one supplier. We are excited for the opportunity to expand and
extend our strategic relationship with Volvo and collaborate on other
products where we can bring value to their supply chain.”
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 80 years of service.
Mack Trucks, Inc. is part of the Volvo Group, one of the world’s leading
manufacturers of trucks, buses, construction equipment and marine and
industrial engines. The Group also provides complete solutions for
financing and service. The Volvo Group, which employs about 100,000
people, has production facilities in 19 countries and sells its products
in more than 190 markets. In 2014, the Volvo Group’s sales amounted to
about $38.2 billion. The Volvo Group is a publicly-held company
headquartered in Gothenburg, Sweden. Volvo shares are listed on Nasdaq
Stockholm and are traded OTC in the U.S.
This press release contains “forward-looking” statements within the
meaning of federal securities laws. Actual results could differ
materially from those projected in such forward-looking statements as a
result of certain risk factors, including but not limited to: any early
termination of the supply contract or any of those risk factors set
forth in the Annual Report on Form 10-K, dated and filed March 31, 2015
with the Securities and Exchange Commission (SEC) by our parent company,
Sypris Solutions, Inc. and other filings that Sypris makes with the SEC
from time to time.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151113005619/en/
Source: Sypris Technologies, Inc.
Sypris Technologies, Inc.
Kevin Kramer, 502-420-1229
Director,
Business Development & Marketing
