Park Aerospace Reports Storm Damage To Its Newton, Kansas Manufacturing Facilities; None Of The Manufacturing Lines Or Equipment Were Damaged By Storm; Currently Working With Multiple Contractors On Site In Order To Fully Assess Damage And Remediation Options; Does Not Expect To Lose Any Business Or Sales As A Result Of Storm Damage

Author: Benzinga Newsdesk | May 22, 2024 11:36am

Park Aerospace Corp. (NYSE-PKE) reported that, on Sunday, May 19, at approximately 8:00 pm local time, the Company's Newton, Kansas manufacturing facilities were damaged by a strong storm which transitioned the area. None of the Company's manufacturing lines or equipment were damaged by the storm. Although the building structures are secure, it is likely that the roofs on all three buildings in the Company's Newton, Kansas campus will ultimately need to be replaced. Also, multiple specialty HVAC units were damaged or destroyed. These specialty HVAC units are necessary to control the temperature and humidity in certain of the manufacturing rooms and the production and R&D laboratories, which is required by certain specifications and certifications the Company is subject to. The Company is currently working with multiple contractors on site in order to fully assess the damage and the remediation options.

Posted In: PKE