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LAKE SUCCESS,
New York, April 25, 2001…..Park
Electrochemical Corp. (NYSE
- PKE) announced the integration of its Metclad
SA business in Lannemezan, France into its Neltec,
Inc. business in Tempe, Arizona and plans for the expansion
of its RF/microwave materials business
into North America. The Company will install new RF/microwave materials
manufacturing equipment at Neltec's recently expanded production
facility in Tempe, Arizona. This installation is expected to be
operational in Park's current fiscal year's third quarter and will
enable this facility to produce materials for the cellular infrastructure,
wireless broadband, and digital broadband markets. In addition,
the new equipment will be capable of producing very large format
RF/microwave materials. As part of the integration, Metclad SA is
changing its name to Neltec SA but will continue to manufacture
and develop high speed RF/microwave products. The Metclad product
line will be integrated into the Neltec global product line of high
performance multilayer materials. The Metclad business will report
to Robert A. Forcier, President of Neltec, Inc. and Senior Vice
President, OEM Marketing and Technology, of Park.
Mr. Forcier
said, "We are very excited about adding manufacturing capability
for RF/microwave materials in North America and integrating Metclad
SA into Neltec, Inc. As wireless and digital broadband technologies
proliferate, we see a unique opportunity to provide our customers
with new solutions for critical speed and signal integrity requirements.
With the addition of the Metclad product line, we will extend our
technology solutions to include rapidly growing applications such
as Bluetooth, 3G, advanced power amplifiers, embedded antenna designs,
optical routers, wide bandwidth infrastructure systems and high
speed chip packaging. We are confident that Neltec's product capabilities
in both RF/microwave products and digital broadband products, such
as N4000-13, SI™ and N6000, will enhance system performance for
our customers' next generation applications."
Certain portions
of this news 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 relationship 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, 2000.
Park Electrochemical
Corp. is a leading global designer and producer of electronic materials
used to fabricate complex multilayer printed circuit boards, semiconductor
packages and other electronic interconnect systems. Park specializes
in advanced materials for high layer count circuit boards and high
speed digital broadband telecommunications, internet and networking
applications. Park's electronic materials business operates through
fully integrated business units in Asia, Europe and North America.
The Company's major manufacturing facilities are located in Singapore,
England, France, Germany, New York, Arizona and California. Park's
electronic materials business operates under the "Nelco" and "Neltec"
names.
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