Press Release
Contact: Adrienne Binenstock
Park Electrochemical Corp.
(516) 354-4100
PARK ELECTROCHEMICAL CORP. ANNOUNCES FORMATION OF METCLAD INTERNATIONAL CORP.
PARK ELECTROCHEMICAL CORP. ANNOUNCES APPOINTMENT OF ROBERT A. QUINTUS AS PRESIDENT AND CEO OF METCLAD INTERNATIONAL CORP.
LAKE SUCCESS, New York, March 15, 1999...Park Electrochemical Corp. (NYSE-PKE) announced the formation of Metclad International Corp., a wholly-owned subsidiary of Park Electrochemical. Metclad International will manufacture and market PTFE based laminates for the microwave, RF and wireless communications market on a worldwide basis. Robert A. Quintus has been named as the President and CEO of Metclad International Corp. Mr. Quintus will be responsible for the development and supervision of the business and operations of Metclad International, including those of Metclad S.A., Park’s existing microwave circuitry material business located in Lannemezan, France. Jim Youngblood will continue as President of Metclad, S.A. and Mr. Youngblood will report directly to Mr. Quintus. Metclad International Corp. will initially be headquartered at Park Electrochemical’s corporate offices in Lake Success, New York.
Brian Shore, Park Electrochemical’s President and CEO, said, “The formation of Metclad International Corp. not only represents a natural step in the evolution of Park’s microwave circuitry materials business, but also evidences Park’s commitments to grow and enhance our existing Metclad business in France and to expand our microwave material business into North America and also Asia. We are very pleased that Bob Quintus has agreed to lead our new Metclad International business into the future. Bob is a seasoned businessman with very extensive management experience in the global microwave circuitry materials industry. We are therefore very fortunate to have Bob join our company as the President and CEO of Metclad International. We also see the expansion of our microwave circuitry material business as being a very logical strategy, and we expect to benefit from important technological synergies in the future between our expanded Metclad business and our existing global Nelco circuitry material business.”
Certain portions of this press 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 March 1, 1998.
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 is operated by its “Nelco” group of companies. Park also manufactures specialty adhesive tapes and advanced composite materials for the electronics, aerospace and industrial markets.
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