MELVILLE, N.Y., April 01, 2019 (GLOBE NEWSWIRE) -- 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 Kochva
48 South Service Road
Melville, NY 11747
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/4ea77a35-d763-4280-99ab-90ddd2fdf50c.