Servotronics Inc. has sold the Queen Cutlery Co., a small subsidiary in Titusville, Pa., that makes pocket knives, as part of the Elma company's push to boost its profits by eliminating some of its products and components.
Servotronics sold the Queen Cutlery business to Kenneth R. Daniels, who is part of the Daniels Family Cutlery Corp. business in southern Ohio. The terms of the deal were not disclosed.
Servotronics said it currently is evaluating its existing product lines and considering moves to consolidate its facilities to reduce costs. Nicholas Trbovich Jr., Servotronics' president and chief operating officer, said in July the company is looking at consolidating its four plants, which are now spread over three states. The company's cutlery business, for instance, operates out of three separate buildings, totalling 154,000 square feet of space, in Franklinville.