Sypris Technologies, a subsidiary of Sypris Solutions, Inc, 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.
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Commenting on the announcement, Federico Aviles, Vice President and General Manager of Sypris Technologies Mexico, S. de R.L. de C. V., stated, “We are pleased to enter into the next chapter of our strategic relationship with this important customer. The successful finalization of this agreement sets the stage for us to focus on additional opportunities for collaboration in the future. Our customer is a global leader in the commercial vehicle industry, and we are proud to serve as a partner by supplying quality products to support its reputation for high-performance and durability.”
Sypris Technologies, Inc. is a premier manufacturer and supplier of drivetrain and other critical components for the commercial and recreational vehicle, automotive, mining, agriculture, industrial and energy markets.
SOURCE: Businesswire