Servotronics, Inc. Announces 2020 Hiring Initiative And Review Of 2019 Capital Expenditures
Servotronics, Inc. (SVT)
NASDAQ:AMEX Investor Relations:
servotronics.com/investor-relations
Company Research
Source: PR Newswire
ELMA, N.Y., Dec. 23, 2019 /PRNewswire/ -- Servotronics, Inc. (NYSE American: SVT), a designer and manufacturer of servo-control components and other advanced technology products, announces a major new staffing program to hire at least an additional 75 new employees at its Elma, New York headquarters and its facility in Franklinville, New York. The Company seeks qualified applicants for a wide range of positions on 1st, 2nd, and 3rd shifts, including entry level, skilled labor, and professional candidates.The Company's head count currently includes 350 full-time and 5 part-time employees. This represents a nearly 25% increase compared to the end of 2018. The Company also has 35 contract employees who were retained to assist with a specified project beginning in 2019. The Company anticipates that the use of contract employees will wind-down in 2020 with the work transitioning to full-time employees.Additionally, the Company has incurred approximately $2 million in capital expenditure
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Sec Filings
- 11/8/24 - Form 10-Q
- 10/15/24 - Form SCHEDULE
- 9/20/24 - Form 8-K
- SVT's page on the SEC website