Keywords
Citation
(2003), "Park Electrochemical announces proposed closure of its Nelco UK manufacturing facility", Circuit World, Vol. 29 No. 2. https://doi.org/10.1108/cw.2003.21729bab.009
Publisher
:Emerald Group Publishing Limited
Copyright © 2003, MCB UP Limited
Park Electrochemical announces proposed closure of its Nelco UK manufacturing facility
Park Electrochemical announces proposed closure of its Nelco UK manufacturing facility
Keywords: Park Electrochemical
Park Electrochemical has announced that it is proposing to close its Nelco UK manufacturing facility located in Skelmersdale, England and is commencing a consultation process with its Nelco UK employees regarding the proposed closure. Park expects to record a one-time, pre-tax charge of $4.0 million to $5.0 million in its 2003 fiscal year third quarter in connection with this proposed closure.
The company also reported that there currently remain approximately 2,250,000 shares of Park Electrochemical Corp. Common Stock available to be purchased by the company pursuant to previous share purchase authorizations announced on June 24, 1998 and September 9, 1998. Pursuant to these authorizations, the company is authorized to purchase its shares from time to time on the open market or in privately negotiated transactions.
For further information, please visit http://www.parkelectro.com
(Source: PRNewswire-FirstCall)