Park Electrochemical Corp. (NYSE – PKE) announced that its wholly owned subsidiary, Park Aerospace Technologies Corp. (“PATC”), has received accreditation by the National Aerospace and Defense Contractors Accreditation Program (“Nadcap”) for composite parts manufacturing. PATC is now Nadcap accredited for composites parts manufacturing and composites materials manufacturing. PATC has also achieved AS9100 certification. As a result of its recently completed facility expansion, PATC is now able to offer its customers in the aerospace industry a full range of aerospace composite materials development and manufacturing capabilities, as well as aerospace composite parts design, assembly and production capabilities. Created in 1990 by SAE Inc., Nadcap is administered by the not-for-profit Performance Review Institute (“PRI”). PRI exists to advance the interests of the mobility and related industries through development of performance standards and administration of quality assurance, accreditation, and certification programs as well as related activities for the benefit of industry, government, and the general public. PRI works closely with industry to understand their emerging needs and offers customized solutions in response. Learn more at www.pri-network.org or contact PRI at PRINadcap@sae.org. “Achieving Nadcap accreditation is not easy: it is one of the ways in which the aerospace industry identifies those who excel at manufacturing quality product through superior special processes. Companies such as Park Aerospace Technologies Corp. work hard to obtain this status and they should be justifiably proud of it,” said Joe Pinto, Vice President and Chief Operating Officer at the Performance Review Institute. “PRI is proud to support continual improvement in the aerospace industry by helping companies such as Park be successful and we look forward to continuing to assist the industry moving forward.” 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, China, France, Connecticut, Kansas, Arizona and California. The Company also maintains R & D facilities in Arizona, Kansas and Singapore.
Shareholders of Park Electrochemical Corp. looking to boost their income beyond the stock's 1.8% annualized dividend yield can sell the August covered call at the $25 strike and collect the premium based on the $1.00 bid, which annualizes to an additional 8.1% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 9.8% annualized rate in the scenario where the stock is not called away.