PARAGON TECHNOLOGIES'
SI SYSTEMS BRAND RECEIVES ORDERS TOTALING APPROXIMATELY $400,000 FROM
A MAJOR MANUFACTURER OF SPECIALTY PACKAGING PRODUCTS
EASTON, PA - June
16, 2004 --
Paragon Technologies, Inc. (AMEX:PTG), a leading supplier of "smart" material handling solutions, including systems, technologies, products and services, announced today that its SI Systems Order Fulfillment brand received an order totaling approximately $600,000 to upgrade the order distribution control software for an existing system to SI Systems proprietary SINTHESIS T Software Suite. The upgrade will require SI Systems to supply seven of the eight SINTHESIS T software groups and includes SI Systems latest software product, the SINTHESIS T Distribution System Optimizer. The software upgrade will give the customer a turnkey, one supplier, integrated software solution, including optimization, for their order fulfillment distribution operation. The customer is a leading manufacturer of quality nutritional supplements, including vitamins, minerals, and food sources, and the contract is scheduled for completion during the second half of 2005. Terms of the contract were not disclosed.
Len Yurkovic, President and CEO of Paragon Technologies, states, "This is an exciting order, and we are extremely pleased that this repeat customer trusts us to upgrade their order fulfillment system by utilizing our proprietary SINTHESIST Software Suite. We continue to build on the strength of our customer relationships and believe that the innovation associated with our automation solutions for distribution applications will continue to attract orders from existing and new customers as their requirements expand. We are looking forward to continued success from Paragon's SI Systems Order Fulfillment brand."
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, BMG, Ford, Peterbilt, Harley-Davidson, and Walgreens..
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, review of strategic alternatives, and other 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 factors over which Paragon has no control, including the strength of domestic and foreign economies, sales growth, competition, and certain cost increases; and (2) if the factors on which Paragon’s conclusions are based do not conform to its expectations.
