Servotronics board commences review of strategic alternatives

Servotronics (SVT) announced that its Board of Directors has commenced a review of strategic alternatives for the company. Servotronics has not set a timetable for completing this review or any transaction that may result. The Company notes that there can be no assurances as to the form and timing of any transaction as a result of this pursuit of strategic alternatives, or if any transactions will be consummated, and any final decisions remain subject to approval by the Servotronics Board of Directors. The Company does not intend to update the market on its progress unless or until it determines that further disclosure is appropriate or required by law. Servotronics has appointed Houlihan Lokey as its lead financial advisor and Bond, Schoeneck & King PLLC as its legal counsel in connection with its review of strategic alternatives.