Sypris Wins Orders for Gas Projects in Kazakhstan and Canada
September 10 2019 - 10:30AM
Business Wire
Specialty Closures Weighing up to 35,000
Pounds Each
Sypris Technologies, Inc., a subsidiary of Sypris Solutions,
Inc. (Nasdaq/GM: SYPR), announced today that it has recently
received significant orders for its Tube Turns® branded closures
for use on the Future Growth Project-Wellhead Pressure Management
Project in Kazakhstan and the Coastal GasLink Pipeline Project in
British Columbia, Canada. Production will begin in 2019 and
continue into 2020. Terms of the purchases were not disclosed.
Brett Keener, General Manager of Sypris Technologies, commented,
“These two projects leverage our 80-plus years of experience in
engineering high-quality closures for the demanding requirements of
major energy projects around the world. We are proud to be a part
of enhancing the energy infrastructure on these types of important
global projects.”
The Tube Turns® Double Bolt closure has been specified for use
in the supergiant oil fields of Tengiz in Kazakhstan. These new
orders are custom designed using an Inconel overlay for
incorporation into the Future Growth Project-Wellhead Pressure
Management Project, which is being constructed to increase the
total daily production from the Tengiz reservoir through the use of
state-of-the-art sour gas injection technology.
In addition to the project in Kazakhstan, Tube Turns® TOOL-LESS®
closures have been ordered for use in the Coastal GasLink Pipeline
Project that is being constructed to deliver natural gas to the
Kitimat liquified natural gas export facility in western British
Columbia, Canada. These high-pressure, special chemistry steel
closures will be 72 inches in diameter and weigh approximately
35,000 pounds each.
Sypris Technologies, Inc. is a global leader in the manufacture
of custom engineered closures for high pressure critical
applications serving the oil and gas pipeline infrastructure,
hydrocarbon and petrochemical processing, and utility industry
since 1927. Headquartered in Louisville, Kentucky, the Company's
products are marketed worldwide, and can be found in projects
ranging from the Trans Alaska Pipeline and Strategic Petroleum
Reserve in the U.S. to the Tengiz Oil Field in Kazakhstan and the
Bonny Island Gas Field in Nigeria. For more information about the
Company, visit its Web site at www.sypris.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190910005750/en/
Brett H. Keener General Manager (502)
774-6271
Sypris Solutions (NASDAQ:SYPR)
Historical Stock Chart
From Feb 2024 to Mar 2024
Sypris Solutions (NASDAQ:SYPR)
Historical Stock Chart
From Mar 2023 to Mar 2024