Corporate News

Sypris Electronics, LLC, a subsidiary of Sypris Solutions, Inc. (NASDAQ: SYPR), announced today that it has been awarded an Indefinite Delivery Indefinite Quantity (IDIQ) contract from the United States Department of Defense (DoD) for its RASKL (KIK-30) electronic key fill device. This contract is in support of the DoD's modernization effort to replace the aging KYK-13 key fill device. The product was designed and will be produced at the Sypris Electronics facility located in Tampa, Florida.

The RASKL IDIQ contract is for a five-year period with a not-to-exceed value of $200 million. The IDIQ contract is the U.S. Government's vehicle for its Services and Agencies to order the RASKL and product ancillaries.

The Really Simple Key Loader, or RASKL, is a modernized electronic key fill product used for loading keying data into secure communication equipments. Due to the demanding, tactical environments for which the product was designed, RASKL is fully ruggedized, small, lightweight, requires no formal training and implements a one-button "key squirt" process for simplified loading operations. The RASKL holds up to 40 modern electronic keys and is depot repairable.

The Defense Advanced Research Projects Agency (DARPA) awarded Lockheed Martin (NYSE: LMT) a 12-month contract to continue development of a next-generation Maritime Domain Awareness (MDA) technology that detects vessel deviations from normal at sea and near ports.

Current MDA systems require operators to wade through volumes of data to identify threat potential. In contrast, the Predictive Analysis for Naval Deployment Activities (PANDA) program uses sophisticated pattern-based learning technologies, historical data, and track monitoring to learn a ship's "normal" behavior.

By understanding normal behavior, PANDA automatically detects deviations that might otherwise go unnoticed or be assessed too late. In addition to providing faster and more meaningful threat assessment, PANDA also helps operators deal more effectively and efficiently with information.

During Phases 1 and 2, PANDA successfully demonstrated the feasibility of using motion-based pattern learning and context filtering to detect and assess unusual vessel behavior. During Phase 3, PANDA will be expanded to monitor thousands of vessels, refine detection capabilities, and enhance operator usability by filtering information and creating a simplified user interface.

Ford (NYSE: F) said October sales in Europe rose 12.8 percent, versus a industry increase of just 6.8 percent.

Ford achieved its highest October market share and car sales volume since 1997 with total sales of 121,000 new vehicles and a market share of 8.8 percent in its 19 main European markets. Ford's market share gain was up 0.5 percentage points. Ford's share increased in 16 out 19 European markets in both October and year-to-date.

Ford said this was the tenth consecutive month of year-over-year monthly share gains and fifth successive month of year-over-year monthly volume increase.

Ford's Fiesta continues to be Europe's No.2 best-selling car.

"This is the strongest October we've had in Europe for 12 years, and it shows we must be doing the right thing in the eyes of our customers," said Ingvar Sviggum, Ford of Europe's Vice-President for Marketing, Sales and Service. "The key is having the right products at the right time for our customers, and this is why we're now the clear No.2 best-selling brand in the European auto industry."

Ford also said they've seen a dramatic increase in the quality of its European sales.

Shares of Citigroup, Inc. (NYSE: C) are seeing some interest this morning as Vice Chairman Ned Kelly, BofA/ML banking conference. Shares are up 1%. Below are some highlights:

• on road to stabilization recovery
  
• dramatically increased capital, liquidity
  
• Citicorp is future of Citi
  
• Continue to cut assets in special asset pool
  
• Balance sheet is very liquid
  
• Deposit are continuing to grow
  
• Liquidity gives Citi time to reduce Citiholding assets.
  
• Odds of keeping CitiFinancial are very low.

The U.S. Navy has awarded a four-year production contract to Rockwell Collins (NYSE: COL) for ARC-210 radios. The contract has a potential value of $450 million over the four-year life of the program.

The ARC-210 provides two-way, multi-mode voice and data communications over a 30 to 512 MHz frequency range. It also includes embedded Ultra High Frequency (UHF) and Very High Frequency (VHF) anti-jam waveforms and other data link and secure communication features, providing the user with total battlefield interoperability and high-performance capabilities in the transfer of data, voice and imagery.

Included in the contract is the next generation ARC-210 radio, which will enter production in 2010. This fifth generation of the ARC-210 is software reprogrammable and brings several new capabilities to the warfighter, including extended frequency range for interoperability with civil agencies.