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BRIEF-Park Electrochemical to consolidate U.S. electronic materials business units
April 18, 2017 / 5:21 PM / 5 months ago

BRIEF-Park Electrochemical to consolidate U.S. electronic materials business units

April 18 (Reuters) - Park Electrochemical Corp:

* Park Electrochemical Corp announces consolidation of its U.S. electronic materials business units

* Consolidation is expected to take approximately four to six months to complete

* Expects to incur a pre-tax charge in connection with consolidation of approximately $5 million to $5.5 million

* Charge is expected to be incurred primarily during first nine months of Park’s current fiscal year ended February 25, 2018

* When consolidation is completed, all manufacturing operations at NPI will cease, except for NPI treating operation

* Once consolidation is complete, Park expects ongoing pre-tax benefit from consolidation of about $3 million to $3.5 million per year Source text for Eikon: Further company coverage:

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