-- Addition of seasoned aerospace industry
leader brings increased focus on sales initiatives and alignment
with long-term growth strategy --
ELMA,
N.Y., Aug. 16, 2023 /PRNewswire/ --
Servotronics, Inc. (NYSE American – SVT), a designer and
manufacturer of servo-control components and other advanced
technology products, today announced that it has strengthened its
sales and marketing team with the hiring of Francisco Tizón as
Director of Sales & Marketing.
Mr. Tizón joins Servotronics with over 30 years of experience
managing global sales, services, program management and commercial
functions with the world's power and engine market leaders.
Reporting directly to Servotronics' Chief Executive Officer
William F. Farrell, Jr., Mr. Tizón
will be leading the effective execution of the Company's sales
strategy through both existing and new business channels in key end
markets. In alignment with the Company's long-term strategic plan,
Mr. Tizón will be focused on strengthening relationships with
current customers and identifying opportunities in previously
untapped adjacent markets. He will also elevate the Company's
marketing initiatives by engaging in new channel marketing
strategies.
"Francisco brings a wealth of experience developing and
fostering customer relationships in the aerospace, defense, energy,
and industrial markets. His expertise in business development and
program management will be critical in implementing and
successfully executing our growth strategy," said Servotronics' CEO
Farrell.
Mr. Tizón commented, "I am delighted to join the Servotronics
team. Given the strong and diverse product line, I believe we have
significant opportunities to expand our market presence and
ultimately achieve our long-term growth objectives."
Mr. Tizón honed his management skills in roles of increasing
responsibility with Rolls-Royce, GE Energy, and Pratt &
Whitney, led new business development for both legacy and next
generation programs, as well as with private-equity firms. Mr.
Tizón is multilingual and has managed businesses in every region of
the world. He is a former air force pilot and flew various types of
aircraft including the Hercules C-130 and Antonov An-32.
Mr. Tizón received a Master of Business Administration in
International Operations from Emory
University and a Bachelor of Science degree in Aeronautical
Science from the Peruvian Air Force Officer's Academy in
Lima, Perú.
ABOUT SERVOTRONICS
Servotronics designs, develops and
manufactures servo controls and other components for various
commercial and government applications including aircraft, jet
engines, missiles, manufacturing equipment and other aerospace
applications at its operating facilities in Elma and Franklinville, New York.
FORWARD-LOOKING STATEMENTS
This news release contains
certain "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995, including
statements the Company makes regarding expected operating results,
the utilization of production resources and liquidity to fund its
business operations. Forward-looking statements involve numerous
risks and uncertainties which may cause the actual results of the
Company to be materially different from future results expressed or
implied by such forward-looking statements. There are a number of
factors that will influence the Company's future operations,
including: uncertainties in today's global economy, including
political risks, adverse changes in legal and regulatory
environments, and difficulty in predicting defense appropriations,
the introduction of new technologies and the impact of competitive
products, the vitality of the commercial aviation industry and its
ability to purchase new aircraft, the willingness and ability of
the Company's customers to fund long-term purchase programs, and
market demand and acceptance both for the Company's products and
its customers' products which incorporate Company-made components,
the Company's ability to accurately align capacity with demand, the
availability of financing and changes in interest rates, the
outcome of pending and potential litigation, the severity,
magnitude and duration of the COVID-19 pandemic, including impacts
of the pandemic and of businesses' and governments' responses to
the pandemic on our operations and personnel, and on commercial
activity and demand across our and our customers' businesses, and
on global supply chains and the additional risks discussed in the
Company's filings with the Securities and Exchange Commission.
Readers are cautioned not to place undue reliance on
forward-looking statements, which reflect management's analysis
only as of the date hereof. The Company assumes no obligation to
update forward-looking statements, whether as a result of new
information, future events or otherwise.
SERVOTRONICS, INC. (SVT) IS LISTED ON NYSE American
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SOURCE Servotronics, Inc.