Benzinga | Nov 30, 2021 04:29PM EST

Ampco-Pittsburgh Subsidiary Announces Customer Contract Win; The Contract Term Covers Six Years And Has A Ceiling Value Of $22M

Ampco-Pittsburgh Corporation (NYSE:AP) today announced that the Buffalo Pumps Division ("Buffalo Pumps") of Air & Liquid Systems Corporation ("Air & Liquid Systems"), a wholly-owned subsidiary of the Corporation, has been selected by Fincantieri Marinette Marine ("FMM") to supply centrifugal pumps to be used in the construction of first-in-class, guided-missile frigates for the U.S. Navy.

Located in North Tonawanda, New York, Buffalo Pumps manufactures centrifugal pumps for the fossil-fueled power generation, marine defense, and industrial refrigeration industries. FMM, part of the Fincantieri Marine Group, is a world-class shipbuilder based in Marinette, Wisconsin.

Under the contract, Buffalo Pumps will provide centrifugal pumps for nine onboard services, including seawater cooling, circulation pumps, and titanium fire pumps.

Terry Kenny, President of Air & Liquid Systems, said, "We are proud to serve Fincantieri Marinette Marine as they support the U.S. Navy in building world-class warships to strengthen the national security and defense of our country."

The contract term covers six years and has a ceiling value of $22.0 million if all options and award terms are exercised. Shipments are expected to begin in late 2022.