LOUISVILLE, Ky. -- Sypris Solutions, Inc. (Nasdaq/NM: SYPR) has completed the sale of its Test & Measurement business to Tektronix.
Commenting on the announcement, Jeffrey T. Gill, president and chief executive officer of Sypris Solutions, said, "The completion of this transaction with Tektronix marks an important milestone for Sypris Solutions. The proceeds from the deal will enable us to support many growth opportunities in our Aerospace and Defense segment, including those related to global key management, secure communications, identity authentication and cyber warfare. The transaction will strengthen our balance sheet and focus our future investments in two highly scalable platforms represented by our Industrial and Aerospace and Defense segments.'
The Test & Measurement business of Sypris Solutions is a provider of calibration services, testing and component sourcing services, and specialty products. The company serves customers in a variety of markets, including military, aerospace, avionics, telecommunications, automotive, semiconductor, medical and more.
Sypris Solutions is a diversified provider of technology-based outsourced services and specialty products. The Company performs a wide range of manufacturing and technical services, typically under multi-year, sole-source contracts with major corporations and government agencies in the markets for aerospace and defense electronics, truck components and assemblies, and test and measurement services. For more information about Sypris Solutions, visit www.sypris.com.
For a complete version of the BUSINESS WIRE press release: http://www.businesswire.com/news/home/20091026006080/en
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