EX-99.1 2 ex99-1.htm EX-99.1 Espey Mfg. & Electronics Corp. Announces Additional New $19.8 Million Contract Award Supporting U.S. Navy’s Virginia and Columbia Class Submarine Programs Saratoga Springs, NY, April 10, 2025 - Espey Mfg. & Electronics Corp. (NYSE American: ESP) announces an additional new contract. The Company has been awarded an additional contract valued at $19.8 million, when fully funded, to provide electrical power transformers for the U.S. Navy’s Virginia and Columbia class submarines. Espey was chosen by General Dynamics Electric Boat and the U.S. Navy to manufacture components previously designed and supplied by Espey for both the Virginia class as well as the initial Columbia class vessels. The Columbia class submarine is a top priority for the Department of Defense and was designed to replace the fleet of Ohio class, ballistic missile submarines. Mr. David O’Neil, President and CEO, commented, We continue to be a proud supplier to General Dynamics Electric Boat and the Department of Defense on this essential program. This award and the established relationship with our customer wouldn’t be possible without the hard work and dedication of our employees…
Open exhibit ↗Current Report · Items 8.01 · 8-K
Espey Mfg. & Electronics Corp
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Other Events
Item 8.01. Other Events. The Company has been awarded an additional contract valued at $19.8 million, when fully funded, to provide electrical power transformers for the U.S. Navy’s Virginia and Columbia class submarines. Espey was chosen by General Dynamics Electric Boat and the U.S.…
Disclosure sections
Item 8.01Item 8.01 - Other Events
Item 8.01. Other Events.
The Company has been awarded
an additional contract valued at $19.8 million, when fully funded, to provide electrical power transformers for the U.S. Navy’s
Virginia and Columbia class submarines. Espey was chosen by General Dynamics Electric Boat and the U.S. Navy to manufacture components
previously designed and supplied by Espey for both the Virginia class as well as the initial Columbia class vessels. The Columbia class
submarine is a top priority for the Department of Defense and was designed to replace the fleet of Ohio class, ballistic missile submarines.