UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): August 28,2007
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PARK ELECTROCHEMICAL CORP.
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(Exact Name of Registrant as Specified in Charter)
New York 1-4415 11-1734643
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification
No.)
48 South Service Road, Melville New York 11747
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (631) 465-3600
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Not Applicable
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Former Name or Former Address, if Changed Since Last Report
Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-
2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-
4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.05 Costs Associated with Exit or Disposal Activities.
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On August 28, 2007, the Board of Directors of Park
Electrochemical Corp. (the "Company") authorized a proposal to
restructure the operations and reduce the workforce of Neltec
Europe SAS, the Company's electronic materials business unit
located in Mirebeau, France, and authorized the commencement of
a consultation process with the employees of Neltec Europe SAS
regarding the proposed restructuring and workforce reduction in
accordance with French law. The proposed restructuring and
workforce reduction are in response to the continuing erosion
of the markets for electronic materials in Europe and the
continuing migration of such markets to Asia. If the proposed
restructuring and workforce reduction are implemented, the
Company would expect to record a one-time charge of
approximately $1.5 million in the fourth quarter of the current
fiscal year ending March 2, 2008. The Company expects Neltec
Europe SAS to continue to support all of its existing customers
if the proposed restructuring is implemented. The proposed
restructuring plan does not contemplate the loss of any
business by Neltec Europe SAS. The proposed restructuring will
not affect the Company's Neltec SA business unit located in
Lannemezan, France.
The Company issued a news release on August 29, 2007 announcing
the proposed restructuring. A copy of such news release is
attached as Exhibit 99.1 hereto.
Item 9.01 Financial Statements and Exhibits.
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(c) Exhibits.
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99.1 News Release dated August 29, 2007
SIGNATURE
Pursuant to the requirements of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly
authorized.
PARK ELECTROCHEMICAL CORP.
Date: September 4, 2007 By: /s/Stephen E. Gilhuley
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Name: Stephen E. Gilhuley
Title: Executive Vice President,
Secretary and General Counsel
EXHIBIT INDEX
Number
Exhibit Description Page
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99.1 News Release dated August 29, 2007 5