The Ontario Knife Company® Breaks Ground On New Manufacturing Plant Expansion

FRANKLINVILLE, N.Y., June 5, 2014 /PRNewswire/ -- Senior executives from The Ontario Knife Company^® and its parent company Servotronics, Inc. (NYSE MKT: SVT) held groundbreaking ceremonies on Thursday, June 5^th for the new expansion to its Franklinville, New York manufacturing facility. As the company celebrates its 125^th Anniversary in business, the launch for OKC's facility expansion marks an important milestone in the company's aggressive five-year plan designed to consolidate operations as well as upgrade and streamline its manufacturing process.

Ontario Knife Company received development support for the multi-million dollar 28,000 square foot facility and equipment upgrade initiative in the form of the previously reported $416,000 New York State Community Development Block Grant from the Office of Community Renewal, a $300,000 Casino Funds Grant approved by the Cattaraugus County Legislature, as well as sales and property tax abatements and exemptions through the County of Cattaraugus Industrial Development Agency.

"Today is an exciting next step toward a bright future for Ontario Knife Company as we continue to invest in our people, equipment, and facilities during our 125^th Anniversary year," said Company President and CEO, Ken Trbovich.  "Ontario Knife has created a legacy of crafting top-quality, made in the USA knives and tools for more than 125 years, and our expanded facility and new state-of-the-art equipment will set the stage for continued company growth," Trbovich added.

Among the dignitaries in attendance were: Servotronics, Inc. President / Ontario Knife Company President and CEO Kenneth D. Trbovich; Servotronics, Inc. Chief Financial Officer / Ontario Knife Company Treasurer Cari Jaroslawsky; New York State Senator Cathy Young; New York State Assemblyman Joe Giglio; representative from U.S Congressman Tom Reed's Office Lee James; Cattaraugus County Legislator  Donna Vickman; Cattaraugus County Legislator William Weller; Cattaraugus County Legislator Gary Felton; County of Cattaraugus Industrial Development Agency Executive Director Corey Wiktor; Community Development Block Grant Program / New York State Office of Community Renewal Senior Community Developer Jerome Nagy; Town of Franklinville Supervisor Mike Brisky; Ontario Knife Company Executive Vice President and Chief Manufacturing Officer / Village of Franklinville Mayor Robert Breton; Dean Architects Principal Mark Dean; V.J. Gautieri Constructors President Victor Gautieri; V.J. Gautieri Constructors Director of Project Management Dave Rowley; and V.J. Gautieri Constructors Project Manager Vito Gautieri.

Founded in 1889, The Ontario Knife Company is a U.S. owned and operated organization that continually stays on the forefront of knife designs and cutting-edge technology. Ontario's military supply roots go deep into its history, as the company has been supplying combat knives and tools to the U.S. Military since WWII, including its famous 18-inch Machete. Today, the company consistently develops new knife designs that allow military personnel to have the products they need in order to get their jobs done both on and off of the battlefield. OKC is also especially proud of being selected as the sole provider of the United States Marine Corps OKC3S Multi-purpose Bayonet System and the Model 4 Rescue Strap Cutter. In addition to being a major supplier to the U.S. Armed Forces, Ontario Knife teams with a nationwide network of distributors/dealers to market its products to many diverse consumer and niche markets including the tactical/military, hunting, outdoors, law enforcement and cutlery industries. Worldwide sales activity encompasses more than 28 countries and continues to grow.

For more information about The Ontario Knife Company and its industry-leading line of advanced knives, machetes, edged products and specialty tools, contact The Ontario Knife Company at P.O. Box 145-26 Empire Street · Franklinville, NY 14737 · Telephone (716) 676-5527 · Or visit www.ontarioknife.com. The Ontario Knife Company is a subsidiary of publicly traded Servotronics, Inc. (NYSE MKT– SVT).

FORWARD-LOOKING STATEMENTS
Statements contained herein that are not historical fact are forward-looking statements and, as such, are subject to risks and uncertainties that could cause actual events and results to differ, perhaps materially, from those discussed herein. Forward-looking statements relate to future trends, events or results and include, without limitation, statements and assumptions on which such statements are based that are related to our plans, strategies, objectives, expectations, intentions and adequacy of resources. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Except as required by the federal securities laws, the company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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SOURCE The Ontario Knife Company