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PARAGON TECHNOLOGIES’ SI SYSTEMS’ PRODUCTION & ASSEMBLY

BRAND LANDS $800,000 CONTRACT FOR AN

AUTOMATED ASSEMBLY CONVEYOR

 

 

EASTON, PA — July 27, 2006 -- 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’ Production & Assembly brand received an order totaling approximately $800,000 to furnish and install an automated conveyor system for a manufacturer of recreational vehicles. Detailed terms of the contract were not disclosed.

 

The system will be similar to an assembly conveyor system furnished by SI Systems to this customer in February 2005. This Midwest-based Company is a worldwide leader in the recreational and utility vehicle industry, which sets the standard in that industry for performance and innovation. Their product range is known for its unprecedented combination of power and comfort.

 

Joel Hoffner, President and CEO of Paragon Technologies, states, “Our SI Systems’ Production & Assembly brand continues to offer ergonomically designed assembly conveyor systems to high profile manufacturers, particularly those involved with marketing various types of recreational and utility vehicles. We are delighted that as this manufacturer continues to grow to meet the demand for their products, and that they have once again partnered with SI Systems based on our ability and reputation to furnish customized and ergonomically designed conveyor solutions. ”

 

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.