BAE Systems Awards Optex Systems, Inc. Quality Supplier of the Year at its Third Annual 'Partner2Win' Symposium

Rhea-AI Summary

Optex Systems Holdings, Inc. (OTCQB:OPXS) was recognized with the BAE Systems Partner2Win Quality Supplier of the Year Award and Gold Medalist status for outstanding performance in 2021. This award highlights Optex's contributions to BAE Systems' Combat Mission Systems supply chain. The Partner2Win program aims to enhance operational excellence and reduce defects across suppliers, indicating Optex's role in maintaining high-quality standards. The achievement underscores the company's resilience during the COVID-19 pandemic, focusing on its critical defense applications.

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• Received BAE Systems Partner2Win Quality Supplier of the Year Award.
• Awarded Gold Medalist status for contributions to supply chain success.
• Recognized for exceptional performance despite COVID pandemic challenges.

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• None.

Optex Systems, Inc. Among More Than 20 Award Recipients Recognized at the Annual ‘Partner2Win' Supplier Awards Ceremony

RICHARDSON, TX / ACCESSWIRE / January 4, 2022 / Optex Systems Holdings, Inc. (OTCQB:OPXS) today announced it received a BAE Systems Partner2Win Quality Supplier of the Year Award and Gold Medalist based on exceptional performance and contributions to supply chain success in 2021 for BAE Systems' Combat Mission Systems business.

BAE Systems' Partner2Win is a global program designed to achieve operational excellence and eliminate defects in its supply chain by raising the bar of performance expectations to meet the demand of current and future customers. As part of the program, BAE Systems meets regularly with its suppliers at their locations to transfer best practices to ensure that the components and materials that compose BAE Systems products meet the highest quality standards.

"Our suppliers have overcome many challenges posed by the COVID pandemic to sustain deliveries of our products to Army, Marines, and Navy customers," said Andy Corea, vice president and general manager of BAE Systems' Combat Mission Systems business. "By partnering with the highest performing suppliers - including Optex Systems in the industry, we have and will continue to exceed our customers' expectations."

Learn more about BAE Systems Partner2Win Supplier Symposium here.

About BAE Systems

BAE Systems provides some of the world's most advanced, technology-led defense, aerospace, and security solutions. The company employs a skilled workforce of more than 83,000 employees worldwide and operations in 30 states across the U.S. Working with customers and local partners, BAE Systems develops, engineers, manufactures, and supports products and systems to deliver military capability, protect national security and people, and keep critical information and infrastructure secure.

ABOUT OPTEX SYSTEMS

Optex, which was founded in 1987, is a Richardson, Texas based ISO 9001:2015 certified concern, which manufactures optical sighting systems and assemblies, primarily for Department of Defense (DOD) applications. Its products are installed on various types of U.S. military land vehicles, such as the Abrams and Bradley fighting vehicles, Light Armored and Armored Security Vehicles, and have been selected for installation on the Stryker family of vehicles. Optex also manufactures and delivers numerous periscope configurations, rifle and surveillance sights, and night vision optical assemblies. Optex delivers its products both directly to the military services and to prime contractors. For additional information, please visit the Company's website at www.optexsys.com.

Safe Harbor Statement

This press release contains certain forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, including those relating to the products and services described herein. You can identify these statements by the use of the words "may," "will," "could," "should," "would," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," "likely," "forecast," "probable," and similar expressions. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. Such risks and uncertainties include, but are not limited to, continued funding of defense programs and military spending, the timing of such funding, general economic and business conditions, including unforeseen weakness in the Company's markets, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, changes in the U.S. Government's interpretation of federal procurement rules and regulations, changes in spending due to policy changes in any new federal presidential administration, market acceptance of the Company's products, shortages in components, production delays due to performance quality issues with outsourced components, inability to fully realize the expected benefits from acquisitions and restructurings or delays in realizing such benefits, challenges in integrating acquired businesses and achieving anticipated synergies, changes to export regulations, increases in tax rates, changes to generally accepted accounting principles, difficulties in retaining key employees and customers, unanticipated costs under fixed-price service and system integration engagements, changes in the market for microcap stocks regardless of growth and value and various other factors beyond our control.

You must carefully consider any such statement and should understand that many factors could cause actual results to differ from the Company's forward-looking statements. These factors include inaccurate assumptions and a broad variety of other risks and uncertainties, including some that are known and some that are not. No forward-looking statement can be guaranteed and actual future results may vary materially. The Company does not assume the obligation to update any forward-looking statement. You should carefully evaluate such statements in light of factors described in the Company's filings with the SEC, especially on Forms 10-K, 10-Q and 8-K. In various filings the Company has identified important factors that could cause actual results to differ from expected or historic results. You should understand that it is not possible to predict or identify all such factors. Consequently, you should not consider any such list to be a complete list of all potential risks or uncertainties.

Contact:

IR@optexsys.com
1-972-764-5718

SOURCE: Optex Systems Holdings, Inc.

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FAQ

What award did Optex Systems receive in January 2022?

Optex Systems received the BAE Systems Partner2Win Quality Supplier of the Year Award.

What criteria led to Optex Systems winning the Supplier Award?

Optex was recognized for its exceptional performance and contributions to BAE Systems' supply chain success.

How did COVID-19 impact Optex Systems' operations?

Despite challenges posed by COVID-19, Optex Systems sustained its deliveries and maintained high-quality standards.

What is the significance of the BAE Systems Partner2Win program?

The program aims to achieve operational excellence and eliminate defects in the supply chain through collaboration with suppliers like Optex.

What is the stock symbol for Optex Systems?

The stock symbol for Optex Systems is OPXS.