Park Electrochemical Announces Official Opening of its Business Center in China
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LAKE SUCCESS, New York, January 8, 2002….Park Electrochemical Corp. (NYSE-PKE) announced the official opening of its newest business center which it established in Wuxi, China to support the rapidly growing customer demand for advanced multilayer printed circuitry materials in China. The business center operates under the name Nelco Products (Wuxi) Co. Ltd. (“Nelco Wuxi”).
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Nelco Wuxi, a wholly owned Park subsidiary, is located approximately 140 kilometers northwest of Shanghai in the Wuxi-Singapore Industrial Park in Wuxi, China. Nelco Wuxi will provide advanced multilayer circuitry materials, as well as customer and technical support services, to leading electronics manufacturing customers throughout China. As previously announced, Mr. Roland Erismann joined the Company in November 2001 as Park’s China Country Manager and General Manager of Nelco Wuxi.
The address and telephone number of Nelco Wuxi are: Nelco Products (Wuxi) Co., Ltd., Lot 226C, Xin Chuang Si Lu, Wuxi-Singapore Industrial Park, Wuxi 214028, Jiangsu Province, China; 86-510-528-1100 (fax 86-510-528-2200).
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 expectations. Such factors include, but are not limited to, general conditions in the electronics industry, Park’s competitive position, the status of Park’s relationships with its customers, economic conditions in international markets, the cost and availability of utilities, and the various factors set forth 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 25, 2001.
Park Electrochemical Corp. is a leading global designer and producer of electronic materials used to fabricate complex multilayer printed circuit boards and interconnection systems. Park specializes in advanced materials for high layer count circuit boards and high-speed digital broadband telecommunications, internet and networking applications. Park’s electronic materials business operates through fully integrated business units in Asia, Europe and North America. The Company’s major manufacturing facilities are located in Singapore, China, Germany, France, England, Massachusetts, Connecticut, New York, Arizona and California. Park’s electronic materials business operates under the “Nelco” name.