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Lake Success, N.Y. — Park Electrochemical Corp. is establishing a new manufacturing facility in the People's Republic of China to support the growing customer demand for advanced multi-layer printed circuitry materials in China.
The facility will operate under the name Nelco Technology (Zhuhai FTZ) Ltd. (Nelco Zhuhai). Nelco Zhuhai will be located approximately 50 miles west of Hong Kong in the Zhuhai Free Trade Zone in Zhuhai, China and will be a wholly owned subsidiary of Park's Nelco Products Pte. Ltd. business unit located in Singapore. Nelco Zhuhai will provide advanced multi-layer circuitry laminate materials, as well as customer and technical support services, to leading electronics manufacturing customers throughout China. These advanced laminate materials will be produced by Nelco Zhuhai. Park expects the Nelco Zhuhai facility to be operational in the 2006 fiscal year third quarter ending November 27, 2005. Park intends to invest approximately US $5 to $7 million in the facility, which will consist of approximately 40,000 sq ft and will ultimately employ approximately 100 employees.
In other Park news, the company's Board of Directors declared a regular quarterly dividend of 6 cents per share payable May 11, 2004, to stockholders of record at the close of business on April 13, 2004.
Park Electrochemical Corp. is a leading global designer and producer of electronic materials used to fabricate complex multi-layer printed circuit boards and interconnection systems. For more information, visit www.parkelectro.com or www.parknelco.com.