Sypris Acquires Pipeline Engineering Rapid Opening Closure Line
Expands Presence in Europe, Asia and Middle East
Sypris Technologies, Inc., a subsidiary of Sypris Solutions, Inc. (Nasdaq/GM: SYPR), announced today that it has recently acquired the intellectual property rights for the rapid opening closure ("ROC") product line from Pipeline Engineering and Supply Co. Limited ("PE"), located in Catterick, UK. The terms and conditions of the transaction were not disclosed.
The purchase of the intellectual property provides Sypris with the exclusive right to use the purchased IP to manufacture and sell the ROC product line to end users globally, including those in the oil, gas, petrochemical and industrial markets. Under the agreement, Sypris will also ha
