Benzinga | May 20, 2021 08:07AM EDT

Sypris Wins Awards to Support Subsea Cable Systems

Sypris Electronics, LLC, a subsidiary of Sypris Solutions, Inc. (Nasdaq/GM: SYPR), announced today that it has recently received follow-on awards from a global undersea cable provider to manufacture and test electronic power supply modules for multiple high-reliability undersea communication networks. Production is expected to begin in 2021 and continue into 2022. Terms of the agreement were not disclosed.

The awards are for the production of a variety of electronic assemblies used in flexible and scalable ultra-long-haul undersea networks. Given the significant growth in digital services and data consumption, these undersea cable systems offer the opportunity to seamlessly connect to the world's top interchange points and content hubs for the extension of service globally. These next generation, high-capacity and high-speed systems span thousands of kilometers undersea.

"The subsea electronics market continues to be a great strategic fit for our mission-critical product application focus," said Jim Long, Vice President & General Manager of Sypris Electronics. "Our customer is a leader in undersea telecom installations, and we are excited to be expanding our partnership with this award."