Park Aerospace Corp. reported that, on May 19, 2024 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. Although the Company is still in the process of assessing the situation, the Company believes the film and tape lines located in the recently completed factory expansion will be brought back on line this week, the film and tape lines in the original factory will be brought back on line next week and the ?solution? treater lines will be returned to service the following week, at which point all manufacturing lines will have fully returned to service.

The Company plans to employ certain temporary measures in order to return its manufacturing lines to full service as soon as possible, including the use of temporary HVAC equipment, but it will take the Company a number of months to permanently repair or replace all of the damaged facilities and infrastructure equipment. At this time, the Company does not have an estimate of the costs of the repairs and final remediation.