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<p align="center"><font face="Times New Roman" size="5"><b>UNITED STATES<br>SECURITIES AND EXCHANGE COMMISSION<br></b></font>
<font size="3"><b>WASHINGTON, D.C. 20549<br>______________________</b></font></p>
<p align="center"><font face="Times New Roman" size="5"><b>FORM 8-K</b></font></p>
<p align="center"><font face="Times New Roman" size="2"><b>CURRENT REPORT<br>Pursuant
 to Section 13 or 15(d) of the<br>Securities Exchange Act of 1934</b></font></p>
<table border="0" cellpadding="0" cellspacing="0" width="80%" align="center">
<tr>
<td valign="bottom" align="left"><font face="Times New Roman" size="2"><b>Date of report (Date of earliest event reported):</b></font></td>
<td valign="bottom" align="left">&#160;</td>
<td width="17%" nowrap valign="bottom" align="left"><font face="Times New Roman" size="2"><b>September 12, 2008</b></font></td>
</tr>
<tr>
<td valign="bottom" align="left">&#160;</td>
<td valign="bottom" align="left">&#160;</td>
<td valign="bottom" align="left"><hr noshade size="1" color="#000000" align="left"></td>
</tr>
</table><br>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td colspan="6" valign="bottom" align="center"><font face="Times New Roman" size="2"><b>PARK ELECTROCHEMICAL
 CORP.</b></font><br><hr noshade size="1" color="#000000"><font face="Times New Roman" size="2"><b>(Exact Name of Registrant as Specified in Charter)</b></font></td>
</tr>
<tr>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
</tr>
<tr>
<td valign="bottom" align="center"><font face="Times New Roman" size="2"><b>New York
</b></font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="center"><font face="Times New Roman" size="2"><b>1-4415
</b></font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="center"><font face="Times New Roman" size="2"><b>11-1734643
</b></font></td>
</tr>
<tr>
<td colspan="6" valign="bottom" align="left"><hr noshade size="1" color="#000000" align="right"></td>
</tr>
<tr>
<td valign="bottom" align="center"><font face="Times New Roman" size="2"><b>(State
 or Other Jurisdiction of Incorporation)</b></font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="center"><font face="Times New Roman" size="2"><b>(Commission
 File Number)</b></font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="center"><font face="Times New Roman" size="2"><b>(IRS Employer
 Identification No.)</b></font></td>
</tr>
<tr>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
</tr>
<tr>
<td valign="bottom" align="left"><font face="Times New Roman" size="2"><b>48 South Service Road, Melville,</b></font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="center"><font face="Times New Roman" size="2"><b>New York</b></font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="center"><font face="Times New Roman" size="2"><b>11747</b>
</font></td>
</tr>
<tr>
<td colspan="6" valign="bottom" align="left"><hr noshade size="1" color="#000000"></td>
</tr>
<tr>
<td colspan="4" valign="bottom" align="center"><font face="Times New Roman" size="2"><b>(Address of Principal Executive Offices)</b></font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="center"><font face="Times New Roman" size="2"><b>(Zip Code)</b></font></td>
</tr>
</table><br><br>
<table border="0" cellpadding="0" cellspacing="0" width="100%" align="center">
<tr>
<td valign="bottom" align="left"><font face="Times New Roman" size="2"><b>Registrant&#146;s telephone number, including area code</b></font></td>
<td valign="bottom" align="left">&#160;</td>
<td valign="bottom" align="center"><font face="Times New Roman" size="2"><b>(631) 465-3600</b></font></td>
</tr>
<tr>
<td valign="bottom" align="left">&#160;</td>
<td valign="bottom" align="left">&#160;</td>
<td valign="bottom" align="left"><hr noshade size="1" color="#000000" align="right"></td>
</tr>
</table><br>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td valign="bottom" align="center"><font face="Times New Roman" size="2"><b> Not Applicable</b></font><br><hr noshade size="1" color="#000000"><font face="Times New Roman" size="2"><b>Former Name or Former Address, if Changed Since Last Report</b></font>
</td>
</tr>
</table>
<p align="justify"><font face="Times New Roman" size="2"><b>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:</b></font></p>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td width="3%" valign="top" align="left"><font face="Times New Roman" size="2"><b>[&#160;&#160;]</b></font></td>
<td valign="top" align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="top" align="left"><font face="Times New Roman" size="2"><b>Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)</b></font></td>
</tr>
<tr>
<td valign="top" align="left"><font face="Times New Roman" size="2"><b>[&#160;&#160;]</b></font></td>
<td valign="top" align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="top" align="left"><font face="Times New Roman" size="2"><b>Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)</b></font></td>
</tr>
<tr>
<td valign="top" align="left"><font face="Times New Roman" size="2"><b>[&#160;&#160;]</b></font></td>
<td valign="top" align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="top" align="left"><font face="Times New Roman" size="2"><b>Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))</b></font></td>
</tr>
<tr>
<td valign="top" align="left"><font face="Times New Roman" size="2"><b>[&#160;&#160;]</b></font></td>
<td valign="top" align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="top" align="left"><font face="Times New Roman" size="2"><b>Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))</b></font></td>
</tr>
</table>
<page>
<br>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td nowrap width="6%" valign="top" align="left"><font face="Times New Roman" size="2"><b><u>Item 2.05</u></b></font></td>
<td valign="top" align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="top" align="left"><font face="Times New Roman" size="2"><b><u>Costs Associated with Exit or Disposal Activities.</u></b></font></td>
</tr>
</table>
<p><font face="Times New Roman" size="2"></font></p>
<p align="justify"><font face="Times New Roman" size="2"><b>On September 12, 2008, the Board of Directors of Park Electrochemical Corp.
(the &#147;Company&#148;) authorized a proposed restructuring of the operations of its
Neltec Europe SAS and Neltec SA business units. As a major component of such
restructuring, Neltec Europe SAS, Park&#146;s digital electronic materials
business unit located in Mirebeau, France, is proposing to close completely
its operations and has commenced an information and consultation process
with the employees of Neltec Europe SAS regarding the proposed closure in
accordance with French law. Although the Company intends to continue fully
the operations of its Neltec SA RF/microwave electronic materials business
unit located in Lannemezan, France, the proposed European restructuring
includes a reorganization of certain of the activities of Neltec SA. Neltec
Europe SAS is proposing to close fully its operations in response to the
very serious erosion of the markets for digital electronic materials in
Europe and the migration of such markets to Asia. The market for such
products in Europe has eroded to the point where the Company believes is not
possible for the Neltec Europe SAS business to be viable.</b></font></p>
<p align="justify"><font face="Times New Roman" size="2"><b>If the proposed restructuring is implemented, the Company would expect to
record a one-time pre-tax charge of approximately $5 million to $6 million
in the third or fourth quarter of the Company&#146;s current fiscal year ending
March 1, 2009 in connection with this matter, which charge would be
comprised of the write-off of assets and the recognition of certain
expenses. If the proposed closure of Neltec Europe SAS is implemented, the
Neltec Europe SAS business would have no further impact on the consolidated
financial condition or results of operations of the Company and would be
treated as a discontinued operation. The Company cannot determine at this
time the expected completion date of the restructuring.<br><br>
The Company issued a news release on September 15, 2008 announcing the
proposed restructuring. A copy of such news release is attached as Exhibit
99.1 hereto.</b>
</font></p>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td width="6%" valign="top" align="left" nowrap><font face="Times New Roman" size="2"><b><u>Item 9.01</u></b></font></td>
<td valign="top" align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="top" align="left"><font face="Times New Roman" size="2"><b><u>Financial Statements and Exhibits.</u></b></font></td>
</tr>
<tr>
<td colspan="3" valign="top" align="left"><font face="Times New Roman" size="2">&#160;</font></td>
</tr>
<tr>
<td valign="top" align="right"><font face="Times New Roman" size="2"><b>(c)</b></font></td>
<td valign="top" align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="top" align="left"><font face="Times New Roman" size="2"><b>Exhibits.</b></font></td>
</tr>
<tr>
<td colspan="3" valign="top" align="left"><font face="Times New Roman" size="2">&#160;</font></td>
</tr>
<tr>
<td valign="top" align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="top" align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="top" align="left"><font face="Times New Roman" size="2"><b>99.1 News Release dated September 15, 2008</b></font></td>
</tr>
</table>
<div align="center"><font face="Sans-Serif" size="2">- 2 -</font></div>
<page>
<br>
<p align="center"><font face="Times New Roman" size="2"><b>SIGNATURE</b></font></p>
<p align="justify">&#160;&#160;&#160;&#160;&#160;<font face="Times New Roman" size="2"><b>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.</b></font></p>

<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td valign="top" align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="top" align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td colspan="2" valign="top" align="left"><font face="Times New Roman" size="2"><b>PARK ELECTROCHEMICAL CORP.</b></font></td>
</tr>
<tr>
<td colspan="4" valign="top" align="left"><font face="Times New Roman" size="2">&#160;</font></td>
</tr>
<tr>
<td colspan="4" valign="top" align="left"><font face="Times New Roman" size="2">&#160;</font></td>
</tr>
<tr>
<td valign="top" align="left"><font face="Times New Roman" size="2"><b>Date: September 18, 2008</b></font></td>
<td valign="top" align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td width="5%" valign="top" align="left"><font face="Times New Roman" size="2"><b>By:</b></font></td>
<td valign="top" align="left"><font face="Times New Roman" size="2"><b>/s/ Stephen E. Gilhuley</b></font></td>
</tr>
<tr>
<td width="50%" valign="top" align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="top" align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td width="4%" valign="top" align="left"><font face="Times New Roman" size="2"><b>Name:</b></font></td>
<td valign="top" align="left"><font face="Times New Roman" size="2"><b>Stephen E. Gilhuley</b></font></td>
</tr>
<tr>
<td valign="top" align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="top" align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="top" align="left"><font face="Times New Roman" size="2"><b>Title:</b></font></td>
<td valign="top" align="left"><font face="Times New Roman" size="2"><b>Executive Vice President, Secretary<br>and General Counsel</b></font></td>
</tr>
</table><br>
<div align="center"><font face="Sans-Serif" size="2">- 3 -</font></div>
<page>
<br>
<p align="center"><font face="Times New Roman" size="2"><b><u>EXHIBIT INDEX</u></b></font></p>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td width="5%"><font face="Times New Roman" size="1">&#160;</font></td>
<td width="5%" valign="bottom" align="left"><font face="Times New Roman" size="2">Number</font></td>
<td width="4%"><font face="Times New Roman" size="1">&#160;</font></td>
<td><font face="Times New Roman" size="1">&#160;</font></td>
<td><font face="Times New Roman" size="1">&#160;</font></td>
<td><font face="Times New Roman" size="1">&#160;</font></td>
</tr>
<tr>
<td><font face="Times New Roman" size="1">&#160;</font></td>
<td nowrap valign="bottom" align="left"><font face="Times New Roman" size="2"><u>Exhibit</u></font></td>
<td><font face="Times New Roman" size="1">&#160;</font></td>
<td valign="bottom" align="left"><font face="Times New Roman" size="2"><u>Description</u></font></td>
<td><font face="Times New Roman" size="1">&#160;</font></td>
<td valign="bottom" align="center"><font face="Times New Roman" size="2"><u>Page</u></font></td>
</tr>
<tr>
<td><font face="Times New Roman" size="1">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="1">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="1">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="1">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="1">&#160;</font></td>
<td><font face="Times New Roman" size="1">&#160;</font></td>
</tr>
<tr>
<td><font face="Times New Roman" size="1">&#160;</font></td>
<td valign="bottom" align="center"><font face="Times New Roman" size="2"> 99.1</font></td>
<td><font face="Times New Roman" size="1">&#160;</font></td>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">News Release dated September 15, 2008</font></td>
<td><font face="Times New Roman" size="1">&#160;</font></td>
<td valign="bottom" align="center"><font face="Times New Roman" size="2"> 5</font></td>
</tr>
<tr>
<td><font face="Times New Roman" size="1">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="1">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="1">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="1">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="1">&#160;</font></td>
<td><font face="Times New Roman" size="1">&#160;</font></td>
</tr>
</table>
<div align="center"><font face="Sans-Serif" size="2">- 4 -</font></div>
</body>
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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):
September 12, 2008
PARK ELECTROCHEMICAL
 CORP.
(Exact Name of Registrant as Specified in Charter)
New York
1-4415
11-1734643
(State
 or Other Jurisdiction of Incorporation)
(Commission
 File Number)
(IRS Employer
 Identification No.)
48 South Service Road, Melville,
New York
11747
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code
(631) 465-3600
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.
On September 12, 2008, the Board of Directors of Park Electrochemical Corp.
(the "Company") authorized a proposed restructuring of the operations of its
Neltec Europe SAS and Neltec SA business units. As a major component of such
restructuring, Neltec Europe SAS, Park's digital electronic materials
business unit located in Mirebeau, France, is proposing to close completely
its operations and has commenced an information and consultation process
with the employees of Neltec Europe SAS regarding the proposed closure in
accordance with French law. Although the Company intends to continue fully
the operations of its Neltec SA RF/microwave electronic materials business
unit located in Lannemezan, France, the proposed European restructuring
includes a reorganization of certain of the activities of Neltec SA. Neltec
Europe SAS is proposing to close fully its operations in response to the
very serious erosion of the markets for digital electronic materials in
Europe and the migration of such markets to Asia. The market for such
products in Europe has eroded to the point where the Company believes is not
possible for the Neltec Europe SAS business to be viable.
If the proposed restructuring is implemented, the Company would expect to
record a one-time pre-tax charge of approximately $5 million to $6 million
in the third or fourth quarter of the Company's current fiscal year ending
March 1, 2009 in connection with this matter, which charge would be
comprised of the write-off of assets and the recognition of certain
expenses. If the proposed closure of Neltec Europe SAS is implemented, the
Neltec Europe SAS business would have no further impact on the consolidated
financial condition or results of operations of the Company and would be
treated as a discontinued operation. The Company cannot determine at this
time the expected completion date of the restructuring.
The Company issued a news release on September 15, 2008 announcing the
proposed restructuring. A copy of such news release is attached as Exhibit
99.1 hereto.
Item 9.01
Financial Statements and Exhibits.
(c)
Exhibits.
99.1 News Release dated September 15, 2008
- 2 -
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: September 18, 2008
By:
/s/ Stephen E. Gilhuley
Name:
Stephen E. Gilhuley
Title:
Executive Vice President, Secretary
and General Counsel
- 3 -
EXHIBIT INDEX
Number
Exhibit
Description
Page
99.1
News Release dated September 15, 2008
5
- 4 -