Servotronics (SVT) Sells Queen Cutlery Co.
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Servotronics, Inc. (AMEX: SVT) has completed the sale of the assets of its subsidiary, Queen Cutlery Company, a Pennsylvania facility located in Titusville, Pennsylvania, to Kenneth R. Daniels, Daniels Family Cutlery Corporation that will be doing business as Queen Cutlery Company.
The sale of assets was part of a previously reported long-term strategic effort to enhance profit margins through the elimination of certain select components/products. The Company is in the process of further evaluating existing product lines and the consolidation of facilities.
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The sale of assets was part of a previously reported long-term strategic effort to enhance profit margins through the elimination of certain select components/products. The Company is in the process of further evaluating existing product lines and the consolidation of facilities.
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