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Park Electrochemical Corp. Announces Grand Opening of Major Expansion of Aerospace Advanced Composite Materials, Parts and Assemblies Facility in Newton, Kansas

Dépèche transmise le 8 décembre 2011 par Business Wire

Park Electrochemical Corp. Announces Grand Opening of Major Expansion of Aerospace Advanced Composite Materials, Parts and Assemblies Facility in Newton, Kansas

MELVILLE, N.Y.--(BUSINESS WIRE)--Park Electrochemical Corp. (NYSE – PKE) announced the grand opening of the major expansion of its aerospace advanced composite materials, parts and assemblies manufacturing and design facility located Newton, Kansas. The expanded facility contains approximately 90,000 square feet of manufacturing, laboratory and office space. Park also announced that its Newton, Kansas wholly-owned subsidiary, Park Aircraft Technologies Corp., has changed its name to Park Aerospace Technologies Corp. (“PATC”).

The newly expanded facility offers advanced composite parts design, fabrication and assembly services, in addition to “build-to-print” services, for the aerospace industry. The expansion includes both oven and autoclave composite parts curing equipment and capability. As a result of the expansion, PATC is now able to offer to the aerospace industry a full range of advanced composite materials development and manufacturing capabilities, as well as advanced composite parts design, assembly and production capabilities. The Company believes its ability to offer a wide array of advanced composite materials and parts manufacturing and design technology and capability will inure to the benefit of the Company’s customers in the aerospace industry.

Certain portions of this press release may be deemed to constitute forward looking statements that are subject to various factors which could cause actual results to differ materially from Park’s expectation. Such factors include, but are not limited to, general conditions in the electronics and aerospace industries, Park’s competitive position, the status of Park’s relationships with its customers, economic conditions in international markets, the cost and availability of raw materials, transportation and utilities, and the various other factors set forth in Item 1A “Risk Factors” and under the caption “Factors That May Affect Future Results” after Item 7 of Park’s Annual Report on Form 10-K for the fiscal year ended February 27, 2011.

Park Electrochemical Corp. is a global advanced materials company which develops and manufactures high-technology digital and RF/microwave printed circuit materials principally for the telecommunications and internet infrastructure and high-end computing markets and advanced composite materials, parts and assemblies for the aerospace markets. Park’s core capabilities are in the areas of polymer chemistry formulation and coating technology. The Company’s manufacturing facilities are located in Singapore, China, France, Connecticut, Kansas, Arizona and California. The Company maintains an aerospace engineering office in Washington State and R & D facilities in Arizona, Kansas and Singapore.

Additional corporate information is available on the Company’s website at www.parkelectro.com.