CPS Technologies announces $29M in new AlSiC orders
CPS Technologies announced receipt of sourcing and pricing agreements with "key customers" of its AlSiC baseplates for use in traction and HEV/EV markets currently forecast at more than $29M over two years. According to Tom Breen, CPS Technologies Senior VP of Sales and Marketing, "The successful conclusion of negotiations and receipt of two-year sourcing and pricing agreements from our largest AlSiC baseplate customers in Europe are a clear validation of our strategy for the Power Electronics market segment, and an affirmation of the superior value proposition our products provide. This significant increase in orders for CPS is ahead of schedule per our Five Year Strategic Plan and ensures our majority market share position with these key customers through 2019. In addition to these base quantities, customer options could increase the value of these orders to more than $35M."