- Sypris Solutions ( NASDAQ: SYPR ) said Thursday its unit Sypris Technologies acquired intellectual property rights for rapid opening closure product line from Pipeline Engineering and Supply.
- Terms were not disclosed.
- The acquisition provides Sypris Technologies with the exclusive right to use the IP to manufacture and sell ROC products to end users globally.
- The unit will also have the capability to supply spare parts and provide field service for any installation that contains the ROC product line.
- The acquisition expands the unit's presence in Europe, Asia and the Middle East.
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Sypris Solutions unit acquires rapid opening closure product line