PARK ELECTROCHEMICAL CORP. ANNOUNCES CHANGES IN OFFICER POSITIONS AT ITS FIBERCOTE INDUSTRIES, INC. SUBSIDIARY
Melville, New York, August 18, 2005….. Park Electrochemical Corp. (NYSE-PKE) announced the appointment of Steven Peake to the position of interim President through December 31, 2005 of the Company’s FiberCote Industries, Inc. advanced composite materials subsidiary located in Waterbury, Connecticut. Steven L. Garrette, who has served as President of FiberCote since November 2001, will be on special assignment through December 31, 2005 assisting Park in its efforts to expand, through acquisition and otherwise, its advanced composite materials business in North America and Asia. Steve Peake has served as FiberCote’s Director of Technology and Quality for the past four years. Mr. Peake has over twenty three years of experience in the advanced composite materials industry, including senior technical and management positions at Cytec Industries and American Cyanamid. Mr. Peake received a Bachelor of Science degree in Chemistry from University of Texas and a Ph.D. degree in Organic Chemistry from University of Wisconsin.
Brian Shore, Park’s President and CEO, said, “I am pleased that Steve Peake, who has very extensive technical and business experience in the composites industry, has agreed to lead our FiberCote advanced composite business through the end of the year. Steve Garrette and I are confident that FiberCote will be in very good hands while Steve Peake is in charge. I also am pleased that Steve Garrette will be working proactively with Park in its efforts to expand its advanced composites business footprint in North America and Asia. Based upon Steve Garrette’s extensive working experience in and knowledge of the advanced composite industry, I am confident that Steve Garrette will be of great value to Park in accelerating its efforts to expand its business in the advanced composites area.”
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 27, 2005.
Park Electrochemical Corp. is a global advanced materials company which develops and manufactures high-technology digital and RF/microwave printed circuit materials and advanced composite materials for the electronics, military, aerospace, wireless communication, specialty and industrial markets. The Company’s manufacturing facilities are located in Singapore, China (currently under construction), France (two facilities), Connecticut, New York, Arizona and California. The Company operates under the FiberCote™, Nelco® and Neltec® names.
Additional corporate information is available on the Company’s web site at www.parkelectro.com.