CVD Equipment Corporation Announces Appointment of Andrew Africk to its Board of Directors
May 29 2024 - 3:00PM
Business Wire
CVD Equipment Corporation (NASDAQ: CVV), a leading provider of
chemical vapor deposition and thermal process equipment, announced
today it had appointed Andrew Africk to its Board of Directors. The
Board of Directors also approved an expansion of the number of
directors from the current level of six to seven.
"We are delighted that Mr. Africk has agreed to join our Board,”
said Lawrence J. Waldman, Chairman of CVD Equipment Corporation’s
Board of Directors. “We appreciate his support of the company as
our largest shareholder, and we welcome his extensive corporate and
financial experience that will be invaluable to our Board of
Directors and executive management team.”
Mr. Africk is the founder of Searay Capital LLC, a private
investment company. Mr. Africk established Searay Capital in July
2013 after 21 years leading private equity and capital markets
investments for Apollo Global Management. As a Senior Partner at
Apollo, Mr. Africk was responsible for investments in technology
and communications, and he has 30 years of experience financing,
analyzing and investing in public and private companies. Mr. Africk
graduated from UCLA with a B.A. in Economics, from the University
of Pennsylvania Law School with a J.D., and from the University of
Pennsylvania’s Wharton School of Business with an MBA.
Manny Lakios, President and CEO of CVD Equipment Corporation,
also commented, “I am very pleased to have Mr. Africk join our
Board of Directors. His in-depth knowledge of the technology sector
will add an additional perspective and allow him to contribute as a
member of the Board of Directors strategically as we focus on key
markets of high power electronics, battery materials, aerospace and
industrial applications.”
About CVD Equipment Corporation
CVD Equipment Corporation (NASDAQ: CVV) designs, develops, and
manufactures a broad range of chemical vapor deposition, thermal
processing, physical vapor transport, gas and chemical delivery
control systems, and other equipment and process solutions used to
develop and manufacture materials and coatings for industrial
applications and research. Our products are used in production
environments as well as research and development centers, both
academic and corporate. Major target markets include high power
electronics (silicon carbide), EV battery materials / energy
storage (carbon nanotubes, graphene and silicon nanowires),
aerospace & defense (ceramic matrix composites) and industrial
applications. Through its application laboratory, the Company
allows customers the option to bring their process tools to our
laboratory and to work collaboratively with our scientists and
engineers to optimize process performance.
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, market and business conditions, the
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,
competition in our existing and potential future product lines of
business, including our PVT systems; our ability to obtain
financing on acceptable terms if and when needed; uncertainty as to
our ability to develop new products for the high power electronics
market; uncertainty as to our future profitability; uncertainty as
to any future expansion of the Company; uncertainty as to our
ability to adequately obtain raw materials and components from
foreign markets in light of geopolitical developments; and other
risks and uncertainties that are described in the Company’s Annual
Report on Form 10-K for the year ended December 31, 2023 and the
Company’s other filings with the Securities and Exchange
Commission. For forward-looking statements in this release, the
Company claims the protection of the safe harbor of the Private
Securities Litigation Reform Act of 1995. The Company assumes no
obligations to update or supplement any forward-looking statements
whether as a result of new information, future events or otherwise.
Past performance is not a guarantee of future results.
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version on businesswire.com: https://www.businesswire.com/news/home/20240529333609/en/
For further information about this topic please contact:
Richard Catalano, Executive Vice President & CFO Phone: (631)
981-7081 Email: investorrelations@cvdequipment.com
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