NORTON, Mass., June 14, 2018 (GLOBE NEWSWIRE) -- CPS Technologies Corporation (Nasdaq: CPSH ), the developer and manufacturer of HybridTech Armor®, is pleased to be supporting the U.S. Marine Corps Assault Amphibious Vehicle (AAV) Survivability Upgrade (SU) Program as it enters into the Production and Deployment Phase.
According to Tom Breen, CPS Technologies Senior VP of Sales and Marketing, “Over the next five years of the AAV program of record, nearly 40% of the USMC’s fielded AAVs will be upgraded - extending their service life, improving their performance and adding enough survivability upgrades to handle current and future operating environments. CPS Technologies’ HybridTech Armor® ballistic washers strengthen the armor attach points. They are much lighter than and offer a significant increase in ballistic protection over traditional steel washers. Our patented, metal encapsulated solution improves on state of the art ceramic performance and provides environmental durability that is measured in decades instead of years.”
CPS Technologies Director of Product Development Jim Sorensen added, “The vehicles that will be upgraded through 2023 on this program of record represent an important milestone in the validation of CPS Technologies HybridTech Armor by US military and international armor customers. This estimated $2 million revenue stream over the next five years, is an important step in the acceptance and proliferation of this advanced ballistic threat defeat capability for ground, naval and airborne applications.”
About CPS Technologies Corporation: CPS is a global leader in producing metal-matrix composite components used to improve the reliability and performance of various armor and electrical systems. CPS products are used to defeat the most advanced threats to ground, airborne and naval platforms. They are also used in motor controllers for hybrid and electric vehicles, high-speed trains, subway cars and wind turbines, as well as heat spreaders in internet switches, routers and high-performance microprocessors.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on management's current expectations and include known and unknown risks, uncertainties and other factors, many of which we are unable to predict or control, that may cause our actual results, performance or achievements to materially differ from those expressed or implied in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those projected in the forward-looking statements is contained in our filings with the Securities and Exchange Commission. We assume no duty to update our forward-looking statements.
CPS Technologies Corporation Ralph Norwood, Chief Financial Officer 111 South Worcester Street Norton, MA 02766 Telephone: (508) 222-0614 Web Site: www.alsic.com
Photos accompanying this announcement are available at
