PARAGON TECHNOLOGIES’ SI SYSTEMS ORDER FULFILLMENT BRAND

RECEIVES SYSTEM EXPANSION ORDERS TOTALING $2.8 MILLION

 

 

 

EASTON, PA — December 5, 2006 -- Paragon Technologies, Inc. (AMEX:PTG), a leading supplier of “smart” material handling systems and “software-driven” warehouse and distribution center solutions, announced that its SI Systems Order Fulfillment brand received three orders totaling approximately $2.8 million to improve and expand existing automated order fulfillment systems originally installed by the Company at domestic and European customer sites. The system enhancements include additional high-speed, high-accuracy automated item picking technology manufactured by the Company, in conjunction with extensions and revisions to order fulfillment software for third party storage and retrieval equipment. The customer is a leading manufacturer of vision care products. Terms of the contract were not disclosed.

 

Joel Hoffner, President and CEO of Paragon Technologies, commented, “We are pleased that this long-standing customer continues to view us as a partner in the growth of their distribution facilities. 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. SI Systems’ Production & Assembly and Order Fulfillment branded technologies and material handling solutions address unit assembly in manufacturing operations 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, 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 June 30, 2005.