PARK ELECTROCHEMICAL CORP. ANNOUNCES NEW OFFICERS IN CHARGE OF ASIAN AND NELTEC, INC. BUSINESS UNITS AND CERTAIN NORTH AMERICAN OPERATIONS
Melville, New York, September 4, 2008…..Park Electrochemical Corp. (NYSE-PKE) announced the appointment of Patrick Crowley as President of Nelco Products Pte. Ltd., Park’s high-technology electronics circuitry materials and advanced composite materials subsidiary located in Singapore. Mr. Crowley will also serve as President of Nelco Technology (Zhuhai FTZ) Ltd., Park’s electronics circuitry materials subsidiary located in Zhuhai, China. Mr. Crowley will be located in Singapore, and he will continue to report to Brian Shore, Park’s President and Chief Executive Officer.
Mr. Crowley had been President of Neltec, Inc., Park’s high-technology circuitry materials business unit located in Tempe, Arizona, since his appointment to that position in August 2005. Mr. Crowley served as President of Neltec Europe SAS, Park’s electronics circuitry materials business unit located in Mirebeau, France, from October 2004 to May 2005. From 1998 to 2004, Mr. Crowley had been Quality Assurance Manager at Neltec, Inc., and for the thirty years prior to 1998, Mr. Crowley held various operational, managerial and sales positions with several companies in the electronics manufacturing industry.
Mr. Crowley will be succeeded as President of Neltec, Inc. by Margaret (“Marty”) M. Kendrick, who also serves as President of Park’s Nelco Products, Inc. electronics circuitry materials business located in Fullerton, California and as President of Park’s new Park Aerospace Structures Corp. aircraft composite structures and components subsidiary in Lynnwood, Washington and Park’s new Park Aerospace Materials Corp. advanced composite materials subsidiary in Newton, Kansas. Marty is also Vice President of Global Supplier Relations of the Company. Marty has also been appointed Vice President of North American Operations of Park Electrochemical Corp., with responsibility for the Company’s Neltec, Nelco Products, Park Aerospace Materials and Park Aerospace Structures business units, as well as the volume aircraft composite structures and components manufacturing facility Park is planning to construct in Mexico. Marty was elected to the position of President of Nelco Products in California in January 2004. Immediately prior thereto, she served as Vice President of Global Materials for the Company. Marty originally joined the Company in 1984.
The day-to-day operations of Neltec, Inc. will be the responsibility of Mark Esquivel who has been appointed Vice President and General Manager of Neltec, Inc. Mark will report to Marty Kendrick. Mark had served as Manufacturing Manager of Neltec, Inc. since August 2004 and as Materials Manager from February 2001 to August 2004, and he held various positions since he originally joined Neltec, Inc. in 1994.
John Jongebloed will continue to serve as President of the Company’s New England Laminates Co., Inc. electronics circuitry materials business located in Newburgh, New York and as President of the Company’s Park Advanced Composite Materials, Inc. advanced composite materials business located in Waterbury, Connecticut. In such capacities, John will continue to report directly to Brian Shore.
Brian Shore, Park’s President and CEO, said, “I am very pleased that Pat Crowley has agreed to take on the leadership position of our Asian business unit. Thank you, once again, Pat, for stepping up for the Company.”
Brian Shore continued, “I am also very happy that Mark Esquivel has agreed to become the leader of our high-technology digital and RF/Microwave circuitry materials business in Tempe, Arizona. Good luck, Mark.”
Brian Shore concluded, “Lastly, I would like to thank Marty Kendrick for taking on all of her additional responsibilities. Park would just not be “Park” without Marty.”
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 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 March 2, 2008.
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, structures and components principally for the aerospace markets. Park’s core capabilities are in the areas of polymer chemistry formulation, coating technology and advanced composite structures and component design and fabrication. The Company’s manufacturing facilities are located in Singapore, China, France, Connecticut, New York, Kansas (under construction), Arizona, California and Washington.