Park Electrochemical Corp. Announces Major Expansion Of Its Neltec, Inc. High Performance Circuit Materials Business Unit
PARK Lake Success, New York, August 16, 2000…Park Electrochemical Corp. (NYSE-PKE) announced that it has approved a major expansion of the facilities of its Neltec, Inc. subsidiary located in Tempe, Arizona. The company’s Neltec business unit specializes in high performance and low-loss materials for very high technology electronic interconnection applications. In addition to producing exotic high temperature epoxy, BT, polyimide and cyanate ester materials, Neltec specializes in advanced high-speed, low-loss materials such as N4000-13, N4000-13SI™, N6000, N6000SI™ and other new materials currently being introduced into the marketplace. This expansion is expected to be completed during the first half of the company’s next fiscal year and will increase the total manufacturing capacity of the Neltec business unit by over fifty percent. Upon completion, Neltec, Inc. will have manufacturing capacity of approximately $60,000,000.
Brian Shore, Park’s President and CEO, said, “We are all very excited about our newly approved Neltec expansion plan. This expansion will further enhance our commitment to the very high technology aspect of the electronics interconnect industry and will serve as a platform for coming new product introductions of very advanced materials currently under development. This expansion further evidences our commitment to being a global technology leader in our industry.”
Bob Forcier, Neltec Inc.’s President, said, “The very fast growth of wide-band and high-speed digital computing in the 1 GHz to 40 GHz range is requiring significant shifts and expansions in advanced electronic materials manufacturing capability and material technology. This growth is creating increasing market demand for Neltec’s N4000-13, N6000 and SI™ (“Signal Integrity”) materials and exciting new opportunities for our high-speed, low-loss materials technology. Neltec’s materials, especially its unique SI materials, have been designed specifically for high frequency digital and microwave applications for the communications industry. Our new expansion will enable us to continue to grow and provide more capacity to our customers as the need for our technology at the OEM level expands in the application areas of wireless infrastructure, broadband network server-routers, optical routers, and high-speed computing.”
Certain portions of this news release which do not relate to historical financial information 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, 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, 2000.
Park Electrochemical Corp. is a leading designer and producer of advanced electronic materials used to fabricate complex multilayer printed circuit boards and interconnection systems. Park’s electronic materials business operates under the “Nelco” name. Park also manufactures specialty adhesive tapes and advanced composite materials for the electronics, aerospace and industrial markets.
Additional corporate information is available on the World Wide Web at www.parkelectro.com.