Servotronics (SVT) Announces Board Review of Strategic Alternatives

Engages Investment Bank Houlihan Lokey to Manage Review Process --

Servotronics, Inc. (NYSE American – SVT), a designer and manufacturer of servo-control components and other advanced technology products, today announced that its Board of Directors has commenced a review of strategic alternatives for the Company.

"The Servotronics team has achieved significant progress in our transformation efforts over the past three years as a valued supplier to the commercial aerospace industry," said Chairman of the Board of Directors Christopher Marks. "Our Board and leadership team see significant opportunities for continued growth given the strong fundamentals in our major markets. To enable this growth and better meet the needs of our customers, employees, and investors the Board has commenced a strategic review of alternatives for Servotronics. The Board will evaluate all options which may include investments of capital, sale of the Company, or continuing on our current path."

"As our leadership embarks on this process, Servotronics will remain committed to our customers, providing them with the critical components they need. Our entire team will maintain our focus on our valued employees, suppliers and the communities where we operate, providing a solid foundation for future success and acceleration of our transformation process, regardless of the strategic path that is ultimately chosen," concluded Chief Executive Officer William F. Farrell, Jr.

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.

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