Park Electrochemical Announces Discontinuation of Negotiations For Sale of Its Arizona-Based Mass Lamination Business
Park Electrochemical Corp. (NYSE-PKE) announced that its negotiations with Multilayer Technology, Inc. ("Multek"), a wholly owned subsidiary of Flextronics International Ltd., relating to Multek’s purchase of Nelco Technology, Inc. ("NTI"), a wholly owned subsidiary of Park, have been discontinued. NTI is a manufacturer of semi-finished printed wiring boards, commonly known as mass lamination, located in Tempe, Arizona.
Park also announced that it believes its earnings per share on a diluted basis for its fiscal year 2001 fourth quarter ending February 25, 2001 will exceed the current consensus estimate of securities analysts of $.63.
Certain portions of this press 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.
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