Park Electrochemical Corp., a Melville maker of computer chips and composite aerospace parts, on Thursday announced the major expansion of its assembly operations in Kansas.
Founded on Long Island in 1954, Park has manufacturing facilities on the Island and in Connecticut, Arizona, California and Kansas; and in Singapore, China and France.
The newly expanded Kansas plant, in Newton, north of Wichita, is operated by subsidiary Park Aerospace Technologies Corp. The 90,000-square-foot space will house manufacturing, laboratory and office space and will expand Park Electrochemical's offerings of composite materials and parts, making it more competitive, the company said.
In early trading Thursday on the New York Stock Exchange, shares of Park Electrochemical were down 62 cents, to $26 98; shares are down roughly 10 percent so far this year.
With about 600 full-time workers, Park has a market capitalization of $557 million. For the most recent four quarters, ending Aug. 28, it has income of $22.2 million on revenue of $200.3 million.
Above, Brian E. Shore, chief executive of Park