UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 27, 2012
CPS TECHNOLOGIES
CORPORATION
(Exact Name of Registrant as Specified in its Charter)
| Delaware | 0-16088 | 04-2832409 |
|
(State or other jurisdiction of incorporation)
|
(Commission File Number) | (IRS Employer Identification No.) |
| 111 South Worcester Street, Norton, Massachusetts | 02766 | |
| (Address of principal executive offices) | (Zip Code) | |
| Registrant’s telephone number, including area code | 508-222-0614 | |
| (Former name or former address, if changed since last report.) | ||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to rule 14d-2(b)
under the
Exchange Act (17CFR 240.14d-2(b))
[ ] Pre-commencement communications
pursuant to Rule 13e-4( c)) under the
Exchange Act (17 CFR 240.13e-4( c)).
Item 8.01
On March 27, 2012 CPS Technologies Corporation issued a press release announcing a sourcing agreement with a tier one automobile supplier. The press release is attached herein as Exhibit 99.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| CPS Technologies Corporation (Registrant) | |
| Date: March 30, 2012 | /s/ Grant C. Bennett Grant C. Bennett President and Treasurer (Principal Executive Officer) |
EXHIBIT INDEX
|
EXHIBIT NUMBER
|
DESCRIPTION |
| 99 | Press Release titled “CPS Technologies Corporation Announces Supply Agreement with Tier One Automotive Supplier” dated March 27, 2012. |
CPS Technologies Corporation
Ralph Norwood, Chief Financial Officer
111 South Worcester Street
Norton, MA 02766
Telephone: (508) 222-0614
Web Site: www.alsic.com
CPS TECHNOLOGIES CORPORATION ANNOUNCES SUPPLY AGREEMENT WITH TIER ONE AUTOMOTIVE SUPPLIER
Norton, Massachusetts, March 27, 2012. CPS Technologies Corporation (OTCBB: CPSH), a provider of advanced material solutions, announces it has entered into a multi-year supply agreement with a major tier one automotive supplier for the supply of AlSiC pin fin coolers. Under the Agreement, CPS will supply the tier one automotive supplier with certain AlSiC pin fin coolers used in motor control modules for hybrid and electric automobiles through the end of 2015. The Agreement stipulates prices, however unit volumes are not guaranteed. Based on stipulated prices and non-binding customer forecasts of unit volumes, sales from CPS to the tier one automotive supplier of components covered by the Agreement over the four year period are currently forecast to be approximately $45-50 million.
“This Agreement is another validation of the significant advantages of our AlSiC pin fin coolers and baseplates in ensuring reliability in motor control applications for hybrid and electric passenger vehicles,” said Grant Bennett, CEO.
CPS has been shipping modest preproduction quantities of the components covered by this Agreement for several quarters, and is doing so today. Development activities for the components have been underway for several years. Production quantities under the Agreement are forecast to ramp in the 3rd and 4th quarter of this year and forecasts show demand increasing in 2013.
CPS Technologies Corporation is a global leader in producing metal-matrix composite components used to improve the reliability and performance of various electrical systems. CPS products are used in motor controllers for hybrid and electric vehicles, high-speed trains, subway cars and wind turbines. They are also used as heatspreaders in internet switches, routers and high-performance microprocessors.