PARAGON TECHNOLOGIES, INC.
ESTABLISHES ALLIANCE WITH OCS INTELLITRAK, INC.
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EASTON, PA — February 2, 2006 -- Paragon Technologies, Inc. (AMEX:PTG), a leading supplier of “smart” material handling systems and “software-driven” warehouse and distribution center solutions, announced today that it has formed a preferred business partner alliance with OCS IntelliTrak, Inc. of Cincinnati, Ohio. SI Systems’ Production & Assembly Systems brand will market and integrate the IntelliTrak line of overhead conveyance products into systems designed and commissioned by Paragon’s professional staff. The technology developed and manufactured by IntelliTrak is especially suited for applications that require clean, quiet, and safe operation, coupled with flexible, modular design.
Joel Hoffner, President and CEO of Paragon Technologies commented, “The overhead conveyance and delivery systems from IntelliTrak will enable us to broaden and expand our opportunities in all of our targeted market sectors in concert with our growth strategy of serving a wider base of customers with more extensive product and service offerings. Our established competency and ability to take single source responsibility for complex integration projects will better serve those customers that require solutions that include both Paragon and IntelliTrak products.”
SI Systems’ Production & Assembly Systems brand will market, install, and service the IntelliTrak line in stand-alone applications as well as integrate it into systems, utilizing its proprietary LO-TOW ® towline and CARTRAC ® spinning tube conveyor products. In addition to providing systems to customers for their product assembly processes, Paragon will be able to include the overhead conveyors that bring parts directly to the production lines.
Charlie Tabler, President of IntelliTrak added, “We’re delighted to add SI Systems to our team of systems integrators. SI Systems is well respected in the marketplace, and there is great synergy between our overhead conveyors and their technologies. The solutions that result will be cost effective and help customers streamline their operations.”
Paragon’s SI Systems’ Order Fulfillment and Production & Assembly technologies drive productivity at Fortune 1000 companies and the United States Government.
About Paragon Technologies
Paragon Technologies is a leader in integrating material handling systems and creating automated solutions for material flow applications. SI Systems’ Production & Assembly and Order Fulfillment branded technologies and material handling solutions address unit assembly handling and order fulfillment applications. One of the top material handling systems suppliers worldwide, SI Systems leading clients have included the United States Postal Service, BMG, Peterbilt, Honda, CVS Pharmacy, Maybelline, Harley-Davidson, and Walgreens
About Paragon Technologies
Paragon
Technologies is a leader in integrating material handling systems and creating
automated solutions for material flow applications. SI Systems’ Production
& Assembly and Order Fulfillment branded technologies and material handling
solutions address unit assembly handling and order fulfillment applications.
One of the top material handling systems suppliers worldwide, SI Systems’
leading clients have included the United States Postal Service, General Motors,
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. Furthermore, achievement of the objectives of the Company following the sale of Ermanco is subject to risks associated with business disruption resulting from the announcement of the sale and other risks outlined in Paragon's filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2004 and the most recent quarterly report on Form 10-Q for the quarter ended September 30, 2005.
