-- 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 - 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
SOURCE Servotronics, Inc.
