News

MELVILLE, NY -- Park Electrochemical Corp. announced a workforce reduction at its Neltec, Inc. electronic materials business unit located in Tempe, Arizona. The number of jobs being cut was not disclosed.

In September, Park also made an unspecified number of cuts to the Nelco Products business unit.

As a result of the Neltec cuts the company anticipates a Q3 charge of less than $100,000 for employment termination benefits for the company’s current fiscal year ending March 1, 2009.
YAVNE, ISRAELOrbotech reported a third-quarter net loss of $43.1 million on revenues of $94.8 million. It also announced plans to drop out of the PCB assembly AOI equipment business and reduce its workforce by 15%.

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