Paragon Technologies
Lands Over $8 Million In New Contracts
EASTON, PA - September 14, 2000 - Paragon
Technologies, Inc. [AMEX: PTG], a leading deliverer of "smart"
materials handling systems, including systems, technologies,
products, and services, today announced that it has closed
two new contracts, with a combined value of over $8 million.
The first contract was awarded to SI Systems
and is a multi-million dollar order by a major government
agency to renovate and upgrade one of its regional processing
centers. This systems integration contract specifies that
SI Systems will provide turnkey system services to engineer,
manufacture, and install new Lo-TowT system components and
electrical controls for a complete system modernization,
retrofit, and expansion. The Lo-TowT system was chosen for
its proven reliability, flexibility, and throughput capabilities.
The second contract was awarded to Ermanco
by one of the world's largest computer manufacturers for
conveyers to increase the efficiency of its computer assembly
operations. This represents an additional order by an existing
client. Besides significant labor savings and lower operating
costs, the critical benefit to the computer manufacturer
is reduced lead-time from order receipt to shipping the
computer to the client. Ermanco's steadily increasing awards
for sophisticated conveyer technology for assembly systems
by computer manufacturers and other high-tech companies
has established it as a technological leader in advanced
integrated material handling systems.
About Paragon Technologies
Paragon Technologies is a leader in integrating materials 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. Paragon Technologies' Quality Management System at its Easton,
Pennsylvania location is certified to the ISO 9001 standard. The scope of the
Quality Management System governs the design, manufacture, assembly, installation,
and servicing of automated materials handling and distribution systems. One
of the top materials handling systems suppliers worldwide, Paragon's leading
clients include the United States Postal Service, General Motors, IBM, BMG,
Daimler Chrysler, Johnson & Johnson, Ford, Peterbilt, Harley-Davidson, Walgreens,
and Clark Equipment.
Certain statements contained
herein are not based on historical fact and are to be viewed as "forward-looking
statements" within the meaning of the Private Securities Litigation Reform
Act of 1995. Words or phrases used in this News Release denoting the anticipated
results of future events, such as " believe," "affords us,"
"grow," "will be," "will spur additional opportunities,"
and similar expressions that denote optimism and uncertainty, are intended to
identify such forward-looking statements. SI Handling's actual results, performance,
or achievements could differ materially from the results expressed in, or implied
by, such "forward-looking statements" if the factors on which their
conclusions are based do not conform to their expectations.
