This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Servotronics, Inc. (NYSE MKT-- SVT) Announces The Completion Of Plant Expansion And Confirms A Cash Dividend To Its Shareholders

ELMA, N.Y., Aug. 2, 2013 /PRNewswire/ -- Servotronics Inc. announces the completion of a new state-of-the-art environmental test facility, a leading stage of a forward thinking plan to enhance operations at Servotronics and its subsidiaries. Engineered to meet stringent safety requirements, the approximate 1,100 square-foot building is outfitted with upgraded performance evaluation equipment, which expands the range and volume of testing that can be performed at the Elma, NY site. Demand from prospective and existing customers were the catalysts for this expansion project, and with this new facility the Company will now have the ability to more closely simulate the on-wing environmental conditions for which its servo components and systems are designed. The new facility is capable of both development and production testing over a wide range of temperatures and other key performance variables.  

"In addition to the enhanced volume and increased range of testing, the facility provides greater flexibility for supporting research and development programs, which are the foundation of the Company's continuing success," said Dr. Nicholas Trbovich, Sr., the Chairman of the Board, CEO, and Founder of Servotronics, Inc.

"It is a significant indication of Servotronics strong commitment to its future," commented Company President Kenneth D. Trbovich. "The increased production and design capacities will help drive growth through new customer acquisition and new product development."

Additionally, Servotronics, Inc. confirmed the issuance of a dividend for the sixth straight year with its May 24, 2013 declaration of a $0.16 per share cash dividend. The dividend was paid on July 15, 2013 to shareholders of record on June 24, 2013. The Board of Directors will continue to consider the distribution of cash dividends as an option, going forward. Recently, the Company was recognized as one of the top four small-cap stocks in the industrial electrical equipment industry with the highest dividend yield, according to Monica Gerson at the media outlet Benzinga.

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.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,678.23 -40.31 -0.23%
S&P 500 2,056.15 -4.90 -0.24%
NASDAQ 4,863.3620 -13.1570 -0.27%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs