Espey Mfg. & Electronics Corp. Announces New $29.5 Million Contract Award Supporting U.S. Navy’s Columbia Class Submarine Program
Espey Mfg. & Electronics Corp. (ESP)
NASDAQ:AMEX Investor Relations:
espey.com
Company Research
Source: GlobeNewswire
SARATOGA SPRINGS, N.Y., Dec. 23, 2024 (GLOBE NEWSWIRE) -- Espey Mfg. & Electronics Corp. (NYSE American: ESP) announces new material contract. The Company has been awarded a contract valued at $29.5 million, when fully funded, to provide electric power distribution panels for the U.S. Navy’s Columbia class submarines. Espey was chosen by General Dynamics Electric Boat and the U.S. Navy to manufacture components previously designed by Espey for the next-generation ballistic missile submarine fleet. The Columbia class submarine is a top priority for the U.S. Navy and was designed to replace the fleet of Ohio class submarines. The Columbia class submarines will be the largest ever built by the United States and rely on a “first-of-its-kind” electric drive propulsion system. Deliveries under the contract are expected through calendar year 2030 for the next 4 of 12 planned ships. Mr. David O’Neil, President and CEO, commented, We are proud to be a continued supplier to General Dynamic
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Sec Filings
- 1/2/25 - Form SCHEDULE
- 12/9/24 - Form 8-K
- 12/9/24 - Form 4
- ESP's page on the SEC website