Sypris Wins Award for Cryptographic Program
December 30 2021 - 8:30AM
Business Wire
Follow-on Program for Secure Communications
Infrastructure
Sypris Electronics, LLC, a subsidiary of Sypris Solutions, Inc.
(Nasdaq/GM: SYPR), announced today that it has recently received a
follow-on award from a U.S. DOD prime contractor to manufacture and
test embedded circuit card assemblies that will perform certain
cryptographic functions for the Army Key Management System
(“AKMS”). Production is expected to begin in 2022. Terms of the
agreement were not disclosed.
The AKMS is a fielded system that consists of three subsystems:
local communications security management software (“LCMS”),
automated communications engineering software (“ACES”) and the
simple key load device. Under the umbrella of our nation’s
Electronic Key Management System, the AKMS provides tactical units
and sustaining bases with an organic key generation capability and
an efficient secure electronic key distribution means.
The LCMS workstation provides automated key generation,
distribution and communications security accounting. The ACES,
which is the frequency management portion of AKMS, has been
designated by the Military Communications Electronics Board as the
joint standard for use by all services in development of frequency
management and cryptographic net planning and signal operation
instructions generation.
The embedded circuit card assemblies to be produced by Sypris
will perform the cryptographic functions for the ruggedized,
portable, hand-held simple key load device that will be used to
securely receive, store and transfer data between compatible
cryptographic and communications equipment. The device incorporates
features that provide for the streamlined management of
communications security key, electronic protection data and signal
operation instructions.
“We are pleased to be a long-term partner on this important
secure communications program that leverages our core competencies
in cyber security solutions,” said Mark R. Kane, Vice President
& General Manager of Sypris Electronics. “This is a significant
program for our country and we are pleased to have this opportunity
to continue our close, long-standing relationship with this
customer.”
Sypris Electronics is a trusted provider of electronic
solutions, addressing customers’ needs for building complex,
mission-critical electronic and electro-mechanical devices and
integrated systems. Backed by 50 years of experience, Sypris’
engineering and manufacturing services span our customers’ product
life cycle all within a culture of continuous improvement and Six
Sigma/Lean thinking. Partners from multiple agencies and tier one
companies in Military (DOD), Space, Undersea, and Industrial
markets team with Sypris to deliver high-reliability electronics
built with strict adherence to regulated requirements. For more
information, please visit www.sypriselectronics.com.
Forward-Looking Statements
This press release contains “forward-looking” statements
within the meaning of the federal securities laws.
Forward-looking statements include our plans and expectations of
future financial and operational performance. Such statements
may relate to projections of the company’s revenue, earnings, and
other financial and operational measures, our liquidity, our
ability to mitigate or manage disruptions posed by COVID-19, and
the impact of COVID-19 and economic conditions on our future
operations, among other matters.
Each forward-looking statement herein is subject to risks and
uncertainties, as detailed in our most recent Form 10-K and Form
10-Q and other SEC filings.
Briefly, we currently believe that such risks also include the
following: the impact of COVID-19 and economic conditions on our
future operations; possible public policy response to the pandemic,
including legislation or restrictions that may impact our
operations or supply chain; the impact of potential U.S. Government
COVID-19 vaccine mandates on our ability to attract and retain
employees and on our business and results of operations; our
failure to successfully complete final contract negotiations with
regard to our announced contract “orders”, “wins” or “awards”; our
failure to successfully win new business; the termination or
non-renewal of existing contracts by customers; our failure to
achieve and maintain profitability on a timely basis by steadily
increasing our revenues from profitable contracts with a
diversified group of customers, which would cause us to continue to
use existing cash resources; cost, quality and availability or lead
times of raw materials such as electronic components; the cost,
quality, timeliness, efficiency and yield of our operations and
capital investments, including the impact of tariffs, employee
training, working capital, production schedules, cycle times, scrap
rates, wages, overtime costs, freight or expediting costs;
dependence on, retention or recruitment of key employees and
distribution of our human capital; disputes or litigation involving
governmental, supplier, customer, employee, warranty claims; our
inability to develop new or improved products or new markets for
our products; our reliance on a few key customers, third party
vendors and sub-suppliers; inventory valuation risks including
excessive or obsolescent valuations or price erosions of raw
materials or component parts on hand or other potential
impairments, non-recoverability or write-offs of assets or deferred
costs; failure to adequately insure or to identify product
liability, environmental or other insurable risks; unanticipated or
uninsured disasters, public health crises, losses or business
risks; volatility of our customers’ forecasts, scheduling demands
and production levels which negatively impact our operational
capacity and our effectiveness to integrate new customers or
suppliers, the costs of compliance with our auditing, regulatory or
contractual obligations; labor relations; strikes; union
negotiations; pension valuation, health care or other benefit
costs; costs associated with environmental claims relating to
properties previously owned; our inability to patent or otherwise
protect our inventions or other intellectual property from
potential competitors; adverse impacts of new technologies or other
competitive pressures which increase our costs or erode our
margins; our reliance on revenues from customers in the oil and gas
and automotive markets, with increasing consumer pressure for
reductions in environmental impacts attributed to greenhouse gas
emissions and increased vehicle fuel economy; U.S. government
spending on products and services that Sypris Electronics provides,
including the timing of budgetary decisions; changes in licenses,
security clearances, or other legal rights to operate, manage our
work force or import and export as needed; cyber security threats
and disruptions; or unknown risks and uncertainties. We undertake
no obligation to update our forward-looking statements, except as
may be required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20211230005036/en/
Lawrence J. Bernicky Vice President of Finance
(813) 972-6040
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