- Sypris Solutions Inc (NASDAQ:SYPR) said it had bagged an award for specialty high-pressure closures for use in the Permian Highway Pipeline Expansion Project.
- Shipments under the award are expected to be completed by 2022 end.
- The Permian Highway Expansion Project will provide an outlet for increased natural gas production from the Permian Basin to growing market areas along the U.S. Gulf Coast.
- Sypris will supply its Tube Turns-branded specialty, high-pressure Tool-less, and Threaded closures for use on the filtration systems for the project.
- The project is expected to increase the capacity of the Permian Highway Pipeline by approximately 550 million cubic feet per day.
- Terms of the order were not disclosed, and the project is proposed to be in service by late 2023.
- Price Action: SYPR shares are trading higher by 0.53% at $1.90 on the last check Tuesday.
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