Paragon Technologies
Appoints Anthony Schweiger and Gilman Hallenbeck to Board
of Directors
EASTON, PA - May 24, 2001 - Paragon
Technologies, Inc. [AMEX: PTG], a leading deliverer of "smart"
materials handling systems, including systems, technologies,
products and services, today announced the appointments
of Anthony W. Schweiger and Gilman J. Hallenbeck to its
board of directors. The appointments of Mr. Schweiger and
Mr. Hallenbeck increase the size of the Paragon Technologies
board from six to eight directors.
Bill Johnson, president and chief executive
officer of Paragon Technologies, commented, "I am pleased
that Anthony Schweiger and Gilman Hallenbeck will join the
Paragon board of directors. Both are important shareholders,
and their knowledge and experience will complement that
of our current directors as we work together to enhance
value for all Paragon shareholders. This is a very exciting
time for Paragon Technologies, and our board and management
team look forward to Tony's and Gil's active involvement
in Paragon's continued growth and success."
Anthony W. Schweiger is the president of The
Tomorrow Group, LLC, which provides specialized financial
and management services for complex strategic and/or turnaround
business issues. Since March of 2001, he has also been the
managing principal of e-brilliance, an IT education business.
As a consultant, he has served in several senior operating
roles, including acting chief operating officer for WineAccess,
a development-stage infomediary, and acting chief executive
officer for Care Systems. Earlier, he was a managing director
of the Stafford Companies, an investment banking firm, and
prior to that he served as the executive vice president
of First Advantage Mortgage Corporation, a mortgage banking
company. From 1987 to 1993, Mr. Schweiger served as president
and chief executive officer of Meridian Mortgage Corporation,
where he was the executive vice president and chief operating
officer from that company's inception in 1983. Mr. Schweiger
is also a director of Radian Group Inc.
Gilman J. Hallenbeck is chairman of the board
of Street Lighting Equipment Corporation, a manufacturer
of architectural outdoor lighting and equipment. He has
held this position since 1964. Mr. Hallenbeck is also a
co-owner of Bolt Electric Co., a distributor of electrical
products selling to electrical contractors, NUJA Realty
Corporation, a commercial real estate holding and management
company, and Asbury Leasing Company, a lessor of capital
equipment. From 1966 to 1997 he also served as chairman
of the board of Area Lighting Research, Inc., a manufacturer
and distributor of photoelectric controls and electrical
energy savings devices. He is a graduate of the United States
Military Academy at West Point.
The Company also announced that the shareholder
group led by Mr. Schweiger is withdrawing its proposed alternative
slate of nominees to Paragon's board of directors.
Paragon Technologies also announced that
all eight directors, including Mr. Schweiger and Mr. Hallenbeck,
will stand for election at its 2001 Annual Meeting of Shareholders.
The Annual Meeting is currently scheduled to be held on
June 26, 2001 at 11:00 a.m. at the GPU Energy Building in
Easton, PA. Shareholders of record on March 30, 2001 will
be entitled to vote at the meeting.
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.
