CPS Technologies Corporation’s HybridTech Armor® Solutions Enhance the United States Marine Corps Assault Amphibious Vehic...
June 14 2018 - 3:38PM
CPS Technologies Corporation (Nasdaq:CPSH), the developer and
manufacturer of HybridTech Armor®, is pleased to be supporting the
U.S. Marine Corps Assault Amphibious Vehicle (AAV) Survivability
Upgrade (SU) Program as it enters into the Production and
Deployment Phase.
According to Tom Breen, CPS Technologies Senior
VP of Sales and Marketing, “Over the next five years of the AAV
program of record, nearly 40% of the USMC’s fielded AAVs will be
upgraded - extending their service life, improving their
performance and adding enough survivability upgrades to handle
current and future operating environments. CPS Technologies’
HybridTech Armor® ballistic washers strengthen the armor attach
points. They are much lighter than and offer a significant increase
in ballistic protection over traditional steel washers. Our
patented, metal encapsulated solution improves on state of the art
ceramic performance and provides environmental durability that is
measured in decades instead of years.”
CPS Technologies Director of Product Development
Jim Sorensen added, “The vehicles that will be upgraded through
2023 on this program of record represent an important milestone in
the validation of CPS Technologies HybridTech Armor by US military
and international armor customers. This estimated $2 million
revenue stream over the next five years, is an important step in
the acceptance and proliferation of this advanced ballistic threat
defeat capability for ground, naval and airborne applications.”
About CPS Technologies Corporation: CPS is a
global leader in producing metal-matrix composite components used
to improve the reliability and performance of various armor and
electrical systems. CPS products are used to defeat the most
advanced threats to ground, airborne and naval platforms. They are
also used in motor controllers for hybrid and electric vehicles,
high-speed trains, subway cars and wind turbines, as well as heat
spreaders in internet switches, routers and high-performance
microprocessors.
This news release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are based on
management's current expectations and include known and unknown
risks, uncertainties and other factors, many of which we are unable
to predict or control, that may cause our actual results,
performance or achievements to materially differ from those
expressed or implied in the forward-looking statements. Additional
information concerning factors that could cause actual results to
differ materially from those projected in the forward-looking
statements is contained in our filings with the Securities and
Exchange Commission. We assume no duty to update our
forward-looking statements.
CPS Technologies Corporation Ralph Norwood, Chief Financial
Officer 111 South Worcester Street Norton, MA 02766 Telephone:
(508) 222-0614 Web Site: www.alsic.com
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/acba77df-d81b-4fc6-bb9d-86c756f63f3a
http://www.globenewswire.com/NewsRoom/AttachmentNg/a3834ec5-8a25-43c8-978f-15252fb24f68
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