Contact: Martina Bar Kochva
48 South Service Road
Melville, NY 11747
PARK ELECTROCHEMICAL CORP. ANNOUNCES
RECEIPT OF R&D SUPPLIER
OF THE YEAR AWARD FROM NORTHROP GRUMMAN
Melville, New York,
Wednesday, June 2, 2010……Park Electrochemical Corp. (NYSE – PKE)
announced that its wholly owned subsidiary, Park Aerospace Structures
Corp., was selected by Northrop Grumman Corporation (NYSE – NOC) as its
2009 Research and Development Supplier of the Year for work related to
fabricating a motor cage structure and a system of composite struts for
the Max Launch Abort System (“MLAS”) program. This series of structures
was a key enabler to ensure the MLAS vehicle maintains the required
launch trajectory. The MLAS is being evaluated by NASA as an alternate
launch abort system. The MLAS is of possible future interest due to
expected aerodynamic advantages and weight savings. It would also
eliminate the need for a launch abort tower for the Orion Crew Module.
Northrop Grumman selected Park Aerospace Structures Corp. out of a total supplier base of approximately 1,700 companies. Gregory Strand, Vice President of Aerospace Structures Marketing and Engineering of Park Electrochemical Corp., Timothy Slipp, Vice President of Park Aerospace Structures Corp., and Eric Olason, Program Manager at Park Aerospace Structures Corp., received the award on behalf of the company on April 28 at a luncheon sponsored by Northrop Grumman in Los Angeles.
Northrop Grumman’s Aerospace Systems sector developed its Supplier of the Year program to recognize the critical role its suppliers play in the delivery of high-performance products Northrop Grumman produces for U.S. and international customers. To be considered for a Supplier of the Year award, a company must demonstrate consistently superior performance in delivering products and services.
“Northrop Grumman has always been rigorous in its selection of suppliers, so your recognition here today is testimony to your hard work, know-how and your dedication to being a valued part of the Northrop Grumman product team,” said Lisa Kohl, Vice President, Global Supply Chain, Northrop Grumman Aerospace Systems.
Northrop Grumman also named Park Aerospace Structures Corp. one of its 2009 Platinum Source Preferred suppliers.
Brian Shore, Park Electrochemical Corp.’s President and CEO, said, “We are so very honored and gratified to have been selected for this award by Northrop Grumman for work on the MLAS program. Actually, it is truly an honor for us to even be involved in such a wonderful program at all.”
Northrop Grumman Corporation is a leading global security company whose 120,000 employees provide innovative systems, products, and solutions in aerospace, electronics, information systems, shipbuilding and technical services to government and commercial customers worldwide.
Park Electrochemical Corp. is a global advanced materials company which develops and manufactures high-technology digital and RF/microwave printed circuit materials principally for the telecommunications and internet infrastructure and high-end computing markets and advanced composite materials, parts and assemblies principally for the aerospace markets. Park’s core capabilities are in the areas of polymer chemistry formulation and coating technology. Park also specializes in the design and manufacture of complex composite aircraft and space vehicle parts. The Company’s manufacturing facilities are located in Singapore, China, France, Connecticut, Kansas, Arizona, California and Washington.
Additional corporate information is available on the Company’s web site at www.parkelectro.com.