Benzinga | Jan 5, 2022 12:32PM EST

Park Aerospace Inks Business Partner Agreement With ArianeGroup

* Park Aerospace Corp (NYSE:PKE) has entered into a Business Partner Agreement with ArianeGroup SAS of Les Mureaux, France. The financial terms were not disclosed.

* As per the agreement, ArianeGroup SAS appointed Park as its exclusive North American distributor of RAYCARB C2(r)B NG proprietary product, which is used to produce ablative composite materials for critical rocketry and missile systems.

* Park is a long-term customer of ArianeGroup and will continue to purchase RAYCARB C2(r)B NG for its own programs.

* Price Action: PKE shares are trading higher by 2.19% at $13.53 on the last check Wednesday.