Park Electrochemical Corp. Celebrates 65 Years In Business
April 01 2019 - 9:27AM
Park Electrochemical Corp. (NYSE – PKE) announced the celebration
of its 65th Anniversary of being in business. Park was
founded by Jerry Shore and Tony Chiesa on March 31, 1954. The
Company was started in a very small factory in Woodside, Queens,
New York with five employees. The Company’s first year’s
revenues were $124,206.59 and its first year’s after tax profit was
$621.17.
Brian Shore, Park’s Chairman and CEO, said, “We
owe everything we have and everything we are to Jerry and Tony, our
beloved founders. Jerry and Tony started the Company with
almost nothing, but they had the courage and conviction to overcome
the many obstacles and challenges which came their way. Jerry
and Tony were unstoppable in their day, and they achieved great
things against serious odds. We are so deeply grateful to
Jerry and Tony for founding our Company and for passing down to us
their unstoppable spirit. That unstoppable spirit is what
allowed us to complete the transformation of Park from an
Electronics Business to an Aerospace Business against very steep
odds.”
Park Electrochemical Corp. is an Aerospace
Company which develops and manufactures solution and hot-melt
advanced composite materials used to produce composite structures
for the global aerospace markets. Park’s advanced composite
materials include film adhesives (undergoing qualification) and
lightning strike materials. Park offers an array of composite
materials specifically designed for hand lay-up or automated fiber
placement (AFP) manufacturing applications. Park’s advanced
composite materials are used to produce primary and secondary
structures for jet engines, large and regional transport aircraft,
military aircraft, Unmanned Aerial Vehicles (UAVs commonly referred
to as “drones”), business jets, general aviation aircraft and
rotary wing aircraft. Park also offers specialty ablative
materials for rocket motors and nozzles and specially designed
materials for radome applications. As a complement to Park’s
advanced composite materials offering, Park designs and fabricates
composite parts, structures and assemblies and low volume tooling
for the aerospace industry. Target markets for Park’s
composite parts and structures (which include Park’s patented
composite Sigma Strut and Alpha Strut product lines) are, among
others, prototype and development aircraft, special mission
aircraft, spares for legacy military and civilian aircraft and
exotic spacecraft. Park’s objective is to do what others are
either unwilling or unable to do. When nobody else wants to
do it because it is too difficult, too small or too annoying, sign
us up.
Additional information about the Company is
available on its website at www.parkelectro.com.
Contact: Martina Bar Kochva48 South Service
RoadMelville, NY 11747(631) 465-3600
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/4ea77a35-d763-4280-99ab-90ddd2fdf50c.
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