Brief: Park Electrochemical to consolidate U.S. electronic materials business units

Park Aerospace

18/04/2017 18:15

April 18 (Reuters) - Park Electrochemical Corp  PKE.N : 
    * Park Electrochemical Corp announces consolidation of its 
U.S. electronic materials business units 
    * Consolidation is expected to take approximately four to 
six months to complete 
    * Expects to incur a pre-tax charge in connection with 
consolidation of approximately $5 million to $5.5 million 
    * Charge is expected to be incurred primarily during first 
nine months of Park's current fiscal year ended February 25, 
2018 
    * When consolidation is completed, all manufacturing 
operations at NPI will cease, except for NPI treating operation 
    * Once consolidation is complete, Park expects ongoing 
pre-tax benefit from consolidation of about $3 million to $3.5 
million per year 
 
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