RTTNews | Feb 24, 2021 10:15AM EST

10:14 Wednesday, February 24, 2021 (RTTNews.com) - Shares of Sypris Solutions Inc. (SYPR) are currently surging 115% after the company announced that it received a defense contract. Financial details of the deal were not revealed.

SYPR are currently trading at $5.73, $3.07 or 115.41%, on the Nasdaq.

Sypris Electronics, a subsidiary of Sypris Solutions, recently received a follow-on award from a U.S. DoD prime contractor to manufacture and test electronic power supply modules for a mission-critical, long range, precision-guided anti-ship missile system. Production will begin in 2021.

Sypris Solutions provides truck components, oil and gas pipeline components, and aerospace and defense electronics primarily in North America and Mexico.

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