Park Electrochemical Corp. Announces Selection by Northrop Grumman Corporation of Park's Patented SIGMA STRUT™ for the James Webb Space Telescope
MELVILLE, N.Y.--(BUSINESS WIRE)-- Park Electrochemical Corp. (NYSE - PKE) announced that its patented SIGMA STRUT™ has been selected by Northrop Grumman Corporation (NYSE - NOC) for use on the James Webb Space Telescope ("JWST"). The JWST is a large, infrared-optimized space telescope developed by an international collaboration among the National Aeronautics and Space Administration (NASA), the European Space Agency (ESA) and the Canadian Space Agency (CSA). The main industrial partner for the project is Northrop Grumman. The JWST project is scheduled to launch in 2018.
Park's SIGMA STRUT is a very light weight composite strut with very high load bearing capabilities. The SIGMA STRUT is well suited for space applications where weight savings is always critical for mission success. Park will design and manufacture SIGMA STRUTs of varying lengths and load-bearing capabilities for different parts of the JWST, including the solar array.
Brian Shore, Park's President and CEO, said: "It is a true honor and privilege to be associated with such a wonderful program as the James Webb Space Telescope. We are very fortunate to have been selected by Northrop Grumman to participate in such a special program."
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 and aerospace industries, Park's competitive position, the status of Park's relationships with its customers, economic conditions in international markets, the cost and availability of raw materials, transportation and utilities, and the various factors set forth in Item 1A "Risk Factors" and 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 26, 2012.
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 for the aerospace markets. Park's core capabilities are in the areas of polymer chemistry formulation and coating technology. The Company's manufacturing facilities are located in Singapore, France, Kansas, Arizona and California. The Company also maintains R & D facilities in Arizona, Kansas and Singapore.
Additional corporate information is available on the Company's website at www.parkelectro.com.
Park Electrochemical Corp.
Martina Bar Kochva, 631-465-3600
KEYWORDS: United States North America New York
The article Park Electrochemical Corp. Announces Selection by Northrop Grumman Corporation of Park's Patented SIGMA STRUT™ for the James Webb Space Telescope originally appeared on Fool.com.
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