UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
______________________
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): May 10,2005
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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 11042
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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
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.
Following a meeting of its Board of Directors on
May 10, 2005, Park Electrochemical Corp. (the "Company")
committed a plan to reduce the size of the workforce at its
Neltec Europe SAS subsidiary in Mirebeau, France, from 138
employees to 103 employees, as a result of further
deterioration of the European market for high-technology
printed circuit materials. The Company expects to record a
one-time termination benefits charge of approximately $1
million during the 2006 fiscal year first quarter ending May
29, 2005 and expects that the payment of these termination
benefits will be substantially completed by the end of the
2006 fiscal year second quarter ending August 28, 2005. All
of these termination costs will constitute cash expenses.
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: May 16, 2005 By: /s/ Murray O. Stamer
Name: Murray O. Stamer
Title: Senior Vice President and
Chief Financial Officer