ELMA, N.Y., Nov. 16, 2017 /PRNewswire/ -- Servotronics, Inc. (NYSE American: SVT), a designer and manufacturer of servo-control components and other advanced technology products, announced today that Kenneth D. Trbovich, the Company's President, has been promoted to the positions of Chairman of the Board of Directors and Chief Executive Officer. Mr. Trbovich succeeds his late father & mentor, Company founder Dr. Nicholas D. Trbovich.
"On behalf of the Board of Directors, I would like to congratulate Ken on his promotion to Chairman & CEO," said Edward C. Cosgrove, Esq. a member of the Company's Board of Directors. "Since being named President of the Company as well as President and CEO of its subsidiary, The Ontario Knife Company, Ken has done a superb job of managing both businesses and in laying the groundwork for future growth. While Dr. Trbovich is sorely missed, I am confident that Ken, with his deep knowledge of the Company coupled with his vision and determination, will faithfully carry on his father's legacy."
Mr. Trbovich joined the Company in 1993 and held positions of increasing responsibility at both Servotronics and The Ontario Knife Company (OKC) including Director of Special Projects and Vice President. He was appointed as President of Servotronics and President and CEO of OKC in 2012. During his tenure as President, his leadership was instrumental in every key area, including facility expansions at both Servotronics and OKC, the strategic reorganization of management functions and the launch of the Jericho Tool division. These efforts better positioned the Company to respond to growing customer demand for its products and services, which directly led to the record annual revenues of $38,587,000 in 2016 and record quarterly revenues of $11,325,000 for the third quarter of 2017.
Servotronics, Inc. is composed of two groups – the Advanced Technology Group (ATG) and the Consumer Products Group (CPG). The ATG primarily designs, develops and manufactures servo control and other components for various commercial and government applications (i.e., aircraft, jet engines, missiles, manufacturing equipment, etc.). The CPG designs and manufactures cutlery, bayonets, machetes and combat, survival, sporting, agricultural, and pocket knives for both commercial and government applications.
SERVOTRONICS, INC. (SVT) IS LISTED ON NYSE AMERICAN
SOURCE Servotronics, Inc.