CVD Equipment Corporation President and CEO Emmanuel Lakios Letter to Shareholders
January 28 2021 - 6:21PM
Business Wire
The following is a letter from CVD Equipment Corporation
President and CEO Emmanuel Lakios:
Dear CVD Shareholders:
As we announced this past Monday, a majority of the Board of
Directors voted to make changes in the management of CVD equipment,
replacing Leonard Rosenbaum as President, CEO and Chairman of the
Board. I am honored and humbled to have been named President and
CEO. Lawrence Waldman has also been elected as non-executive Chair
of the Board.
Along with the independent members of the board, I believe we
have an opportunity to re-focus the great talent, technology and
intellectual innovation that lies within CVD Equipment to serve our
markets and customers. These actions are intended to put the
company on a path to grow profitably and build shareholder
value.
Our CVD management team has already begun to assess our current
businesses, products, and technologies that we are offering our
customers, with a view towards cost efficiency and return on
investment. I have over 30 years of management and direct sales
experience in this industry, focused on growth and a positive
return on investment.
We are developing a comprehensive business plan that capitalizes
on our strengths, focuses on our customers and utilizes our
tremendous talent pool.
Along with the board members who supported this change, there is
extensive management, corporate governance and financial
experience, and we collectively are up to the challenge that lies
ahead.
As important decisions are being made in the near term, we will
communicate such with you in a timely manner. We believe that open
lines of communication to all stakeholders is essential to the
success of any company. We will also initiate these efforts by
returning to our quarterly and annual conference calls commencing
with our year-end 2020 results.
The Board and our Senior Management Team welcome your thoughts,
input, and concerns, and we look forward to working together as we
position CVD Equipment for growth, profitability, and to serve the
best long-term interests of all the stakeholders.
Sincerely yours,
Emmanuel Lakios,
President & CEO
About CVD Equipment Corporation
CVD Equipment Corporation (NASDAQ: CVV) designs, develops,
and manufactures a broad range of chemical vapor deposition, gas
control, and other state-of-the-art equipment and process solutions
used to develop and manufacture materials and coatings for research
and industrial applications. This equipment is used by its
customers to research, design, and manufacture these materials or
coatings for aerospace engine components, medical implants,
semiconductors, solar cells, smart glass, carbon nanotubes,
nanowires, LEDs, MEMS, and other applications. Through its
application laboratory, the Company provides process development
support and process startup assistance with the focus
on enabling tomorrow’s technologies™. It’s wholly owned
subsidiary CVD Materials Corporation provides advanced materials
and metal surface treatments and coatings to serve demanding
applications in the electronics, aerospace, biomedical, petroleum,
pharmaceutical, and many other industrial markets.
The Private Securities Litigation Reform Act of 1995 provides a
“safe harbor” for forward-looking statements. Certain information
included in this press release (as well as information included in
oral statements or other written statements made or to be made by
CVD Equipment Corporation) contains statements that are
forward-looking. All statements other than statements of historical
fact are hereby identified as “forward-looking statements", as such
term is defined in Section 27A of the Securities Exchange Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. Such forward looking information involves a
number of known and unknown risks and uncertainties that could
cause actual results to differ materially from those discussed or
anticipated by management. Potential risks and uncertainties
include, among other factors, conditions, success of CVD Equipment
Corporation’s growth and sales strategies, the possibility of
customer changes in delivery schedules, cancellation of, or failure
to receive orders, potential delays in product shipments, delays in
obtaining inventory parts from suppliers and failure to satisfy
customer acceptance requirements.
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version on businesswire.com: https://www.businesswire.com/news/home/20210128006157/en/
Thomas McNeill Phone: (631) 981-7081 Fax: (631) 981-7095 Email:
investorrelations@cvdequipment.com
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