NEWTON, Kan., Nov. 17, 2020 (GLOBE NEWSWIRE) — Park Aerospace Corp. announced the celebration of the 60th anniversary of its initial public offering, which occurred on November 17, 1960. Park’s IPO was for 175,000 shares of Common Stock, $.10 par value per share, at a price of $4.00 per share, or a total value of $700,000. Park’s Common Stock was originally listed on the American Stock Exchange under the ticker symbol PKE, and the listing was transferred to the New York Stock Exchange on April 25, 1984, where Park’s Common Stock continues to trade to this day under the PKE symbol. (The Company was originally listed under the name “Park Electrochemical Corp.” The Company changed its name to Park Aerospace Corp. on July 17, 2019.)
Brian Shore, Park’s Chairman and CEO, said, “To me, our 60 years as a public company have been wonderful years, but I would not say they have been easy years. Over those years, Park has faced many challenges, disappointments and set-backs which were necessary to overcome. But, at Park, we don’t quit. We don’t give up. We are not here just to get by. We are here to fulfill our destiny.”
Brian Shore continued, “Although it has been a long and exciting 60 year journey for Park as a public company, we never forget where we come from. We embrace and cherish our humble beginnings. Park is a strange and unusual Company filled with unusual and special People. We are not like the others. At Park, we play for keeps.”
Brian Shore concluded, “Lastly, I would like to thank the people at the New York Stock Exchange (and the American Stock Exchange before them) for providing a wonderful environment for the trading of our company’s stock over the years.”
Park Aerospace Corp. 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 proprietary composite SigmaStrut™ and AlphaStrut™ 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 corporation information is available on the Company’s web site at www.parkaerospace.com.
| Contact: | Donna D’Amico-Annitto | 486 North Oliver Road, Bldg. Z |
| Newton, Kansas 67114 | ||
| (316) 283-6500 |
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f86d4949-6ae2-432f-a62f-13f907362d86