Sypris wins military contract worth up to $200 million, will build product in Tampa

Sypris Electronics has won a U.S. Department of Defense contract worth up to $200 million over five years for making an electronic key-fill device that will be designed and produced in Tampa.

The device, which goes by the acronym RASKL for "really simple key loader," will be used to help modernize the Defense Department's electronics. It will replace the current key fill product used for loading keying data into military communications equipment.

The allure of the new product, Sypris said, is that it is small, lightweight, durable and requires no formal training to use.

The government contract is for an indefinite quantity and indefinite delivery date.

A Sypris spokeswoman said it was too soon to say whether the contract would lead to more hires. The company has about 300 employees in Tampa.

Shares in Sypris Solutions, the Louisville-based parent of Sypris Electronics, rose more than 30 percent in early trading Wednesday before closing at $3.28, up 56 cents, or 21 percent.

Jeff Harrington can be reached at jharrington@sptimes.com or (727) 893-8242. Follow him on Twitter at twitter.com/jeffmharrington.