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Park Electrochemical Corp. announces major expansion of its Newton, Kansas facility to produce composite aircraft parts and assemblies

Park Electrochemical Corp. (NYSE: PKE) announced plans for the major expansion of its recently completed and commissioned Park Aircraft Technologies Corp. ("PATC") advanced composite materials development and manufacturing facility located at the Newton, Kansas Airport. The recently completed PATC facility, which was designed to develop and produce advanced composite materials for the aircraft and space vehicle industries, contains approximately 52,000 square feet of manufacturing, laboratory and office space and cost approximately $15 million to construct and fully equip. The Company plans to expand its recently completed PATC facility in order to manufacture composite parts and assemblies for the aircraft and space vehicle industries. This expansion, which includes approximately 42,000 square feet of manufacturing, office and storage space, is expected to cost approximately $5 million and to be complete and operational by September of 2010.

Upon completion of the PATC facility expansion, the Company's objective is for PATC to offer composite aircraft and space vehicle parts design and assembly services, in addition to "build-to-print" services. The expansion will include both oven and autoclave composite parts curing equipment and capability. When the expansion is complete, PATC plans to be able to offer a full range of advanced composite materials development and manufacturing capability, as well as composite parts design, assembly and production capability, all under one roof. The Company believes that the ability of its PATC facility to offer such a wide and comprehensive array of composite materials and parts manufacturing and development technology and capability to the aircraft and space vehicle industries will provide attractive benefits and advantages to those industries.

Brian Shore, Park Electrochemical Corp.'s President and CEO, said, "We would like to thank the people of Newton, Kansas for making us feel so welcome and at home in their community. We look forward to expanding our operations at the Newton, Kansas Airport."

Press release issued by Park Aerospace Technologies Corp. on August 19, 2009

 

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Park Aerospace Technologies Corp. Struts, Aircraft Structural Components, Prepreg

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