Sypris Sells Test & Measurement Business
“The completion of this transaction with Tektronix marks an important milestone for Sypris Solutions,” says Jeffrey T. Gill, president and chief executive officer of Sypris Solutions. “The proceeds from the deal will enable us to support the many growth opportunities in our Aerospace & 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 & Defense segments.”
Gill continued, “We believe that the combination of our Test & Measurement business with Tektronix will result in exciting growth opportunities for our employees and customers. The strategic fit is compelling and the business should benefit from the increased scale and resources that Tektronix has to offer. As a result, the transaction is expected to be a positive event for all stakeholders.”
For more information, visitwww.sypris.com.