Espey Mfg. & Electronics Corp. reports funding award for a facility expansion
Espey Mfg. & Electronics Corp. (NYSE American: ESP) has received a $7.4 million funding award aimed at expanding its facilities and upgrading capital equipment for testing and qualification processes for the United States Navy. This initiative is part of the Navy's broader strategy to enhance the Surface Combatant Industrial Base. The expansion will take place at Espey's Saratoga Springs, NY site, with expected completion by 2024. Espey's core business includes the design and production of specialized military and industrial power supplies and transformers.
- Secured $7.4 million funding for facility expansion and upgrades.
- Supports the enhancement of the Surface Combatant Industrial Base.
- Project completion expected by 2024, indicating future growth.
- None.
SARATOGA SPRINGS, N.Y., Feb. 09, 2023 (GLOBE NEWSWIRE) -- Espey Mfg. & Electronics Corp. (NYSE American: ESP) announces funding award for a facility expansion.
Espey has been awarded
Espey's primary business is the development, design, and production of specialized military and industrial power supplies/transformers. The Company can be found on the Internet at www.espey.com.
For further information, contact Ms. Katrina Sparano (518)245-4400.
This press release may contain certain statements that are "forward-looking statements" and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent the Company's current expectations or beliefs concerning future events. The matters covered by these statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made.
