PARAGON TECHNOLOGIES’ ERMANCO
BRAND AWARDED APPROXIMATELY $15 MILLION IN ASSEMBLY AUTOMATION ORDERS
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EASTON, PA — May 3, 2005 -- Paragon Technologies,
Inc. (AMEX:PTG), a leading supplier of “smart” material handling solutions,
including systems, technologies, products and services, announced today that
its Ermanco brand has received two orders totaling approximately $15 million
for sophisticated conveyor and sortation products to increase the efficiency of
assembly for two companies in the technology sector. Terms of the contracts
were not disclosed.
Len Yurkovic, President and CEO of Paragon Technologies,
states, “These orders, one of which is the largest in Ermanco’s history, are
solidifying Ermanco’s position as a technological leader in providing advanced
material handling automation for high-tech assembly systems. We are extremely
pleased that these customers have selected Ermanco to be their partner in
automation for their very important projects. Our entire team is committed to
the successful implementation of these projects and, ultimately, to our
clients’ success.”
About Paragon Technologies
Paragon Technologies is a
leader in integrating material handling systems and creating automated
solutions for material flow applications. Ermanco’s branded conveyor
technologies and material handling solutions address the needs of the
distribution, assembly, and manufacturing marketplace. SI Systems’ branded
technologies and material handling solutions address unit assembly handling and
order fulfillment applications. One of the top material handling systems
suppliers worldwide, Paragon’s leading clients have included the United States
Postal Service, General Motors, IBM, BMG, DaimlerChrysler, Ford, Peterbilt,
Harley-Davidson, Walgreens, and Clark Equipment.
Cautionary Statement. Certain
statements contained herein are not based on historical fact and are "forward-looking
statements" within the meaning of the Private Securities Litigation Reform
Act of 1995 and the Securities and Exchange Commission rules, regulations and
releases. Paragon intends that such forward-looking statements be subject to the
safe harbors created hereby. Among other things, the forward-looking statements
regard Paragon's earnings, liquidity, financial condition, and certain operational
matters. Words or phrases denoting the anticipated results of future events, such
as "anticipate," "does not anticipate," "should help
to," "believe," "estimate," "is positioned,"
"expects," "may," "will," "is expected,"
"should," "continue," and similar expressions that denote
uncertainty, are intended to identify such forward-looking statements. Paragon's
actual results, performance, or achievements could differ materially from the
results expressed in, or implied by, such "forward-looking statements:"
(1) as a result of risks and uncertainties associated with Paragon's restructuring,
including the failure to achieve anticipated operating savings, and the possibility
that the restructuring charges will be greater than anticipated; (2) as a result
of factors over which Paragon has no control, including the strength of domestic
and foreign economies, sales growth, competition, and certain cost increases;
or (3) if the factors on which Paragon's conclusions are based do not conform
to its expectations.
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