Park Aerospace Corp. Announces Business Partner Agreement With ArianeGroup SAS

Rhea-AI Summary

Park Aerospace Corp. (NYSE-PKE) has secured a Business Partner Agreement with ArianeGroup SAS, becoming its exclusive North American distributor for the RAYCARB C2®B NG product. This advanced material is essential for creating ablative composites used in rocketry and missile systems. Park Aerospace, a long-time customer of ArianeGroup, will continue utilizing RAYCARB C2®B NG in its production while expanding its role in North America. CEO Brian Shore emphasized the importance of this partnership, indicating a significant opportunity for Park to further develop its relationship with ArianeGroup.

Positive

• Secured exclusive North American distribution agreement with ArianeGroup for RAYCARB C2®B NG.
• Strengthened long-term business relationship with ArianeGroup, enhancing market position.

Negative

• None.

NEWTON, Kan., Jan. 05, 2022 (GLOBE NEWSWIRE) -- Park Aerospace Corp. (NYSE-PKE) announced that it has entered into a Business Partner Agreement with ArianeGroup SAS of Les Mureaux, France. Under the Business Partner Agreement, ArianeGroup SAS appointed Park as its exclusive North American distributor of ArianeGroup’s RAYCARB C2®B NG proprietary product. RAYCARB C2®B NG is used to produce ablative composite materials for critical rocketry and missile systems.

Park is a long-term customer of ArianeGroup and uses ArianeGroup’s RAYCARB C2®B NG product in the production of many of Park’s key ablative materials which Park supplies into critical rocket and missile programs. Park will continue to purchase RAYCARB C2®B NG for its own programs, and, through the Business Partner Agreement, Park is now taking on the new role of ArianeGroup’s exclusive North American distributor for its RAYCARB C2®B product.

Brian Shore, Park’s Chairman and CEO, said, “ArianeGroup is a special company, and we have been blessed by our long-term relationship with them. We are honored and humbled that ArianeGroup has chosen Park to be its exclusive North American distributor of their unique and very important RAYCARB C2®B NG product. It is very gratifying for us to be able to expand our relationship with ArianeGroup. Opportunities like this do not come around all that often, and we intend to make the most of it.”

Park Aerospace Corp. develops and manufactures solution and hot-melt advanced composite materials used to produce composite structures for the global aerospace markets. Park’s advanced composite materials include film adhesives (undergoing development) and lightning strike materials. Park offers an array of composite materials specifically designed for hand lay-up or automated fiber placement (AFP) manufacturing applications. Park’s advanced composite materials are used to produce primary and secondary structures for jet engines, large and regional transport aircraft, military aircraft, Unmanned Aerial Vehicles (UAVs commonly referred to as “drones”), business jets, general aviation aircraft and rotary wing aircraft. Park also offers specialty ablative materials for rocket motors and nozzles and specially designed materials for radome applications. As a complement to Park’s advanced composite materials offering, Park designs and fabricates composite parts, structures and assemblies and low volume tooling for the aerospace industry. Target markets for Park’s composite parts and structures (which include Park’s proprietary composite SigmaStrut™ and AlphaStrut™ product lines) are, among others, prototype and development aircraft, special mission aircraft, spares for legacy military and civilian aircraft and exotic spacecraft. Park’s objective is to do what others are either unwilling or unable to do. When nobody else wants to do it because it is too difficult, too small or too annoying, sign us up.

Additional corporate information is available on the Company’s web site at www.parkaerospace.com

Contact:
Donna D’Amico-Annitto
486 North Oliver Road, Bldg. Z
Newton, Kansas 67114
(316) 283-6500

FAQ

What is the significance of Park Aerospace's agreement with ArianeGroup?

The agreement allows Park Aerospace to be the exclusive North American distributor of ArianeGroup’s RAYCARB C2®B NG product, expanding its business opportunities.

How will the distribution agreement impact Park Aerospace's operations?

Park will continue to utilize RAYCARB C2®B NG for its own products while distributing it, potentially increasing revenue and market presence.

When was the Business Partner Agreement between Park Aerospace and ArianeGroup announced?

The agreement was announced on January 5, 2022.

What product is Park Aerospace distributing from ArianeGroup?

Park Aerospace is distributing the RAYCARB C2®B NG product, used for producing ablative composite materials.

What does the RAYCARB C2®B NG product do?

RAYCARB C2®B NG is used to produce ablative composite materials essential for rocketry and missile systems.