PARAGON TECHNOLOGIES ANNOUNCES TWO NEW CONTRACTS TOTALING
OVER $3.5 MILLION
EASTON, PA - July 5, 2001 - Paragon
Technologies, Inc. [AMEX: PTG], a leading deliverer of "smart"
materials handling systems, including systems, technologies,
products and services, today announced it had been awarded
two new contracts totaling over $3.5 million -for an electronics
manufacturer's distribution center and for a tier one automotive
sub-assembly manufacturing facility.
The first system is for a repeat customer
of Ermanco, a Paragon subsidiary: Oakley Industries Sub-Assembly
Division, Inc., which assembles and sequences tires and
wheels for the automotive industry. Tire and wheel assemblies
are conveyed directly onto automated delivery trailers and
shipped in production broadcast sequence.
The second system is for a major electronics
device manufacturer who is opening a new distribution center
in the Southwest. This system will enable them to accommodate
rapid growth in North America.
Bill Johnson, Chief Executive Officer
of Paragon Technologies, commented on these new contracts,
"These orders are primary examples of how our innovative
proprietary technologies can make businesses more successful
via 'smart' automation. Our systems can dramatically increase
productivity, reduce costs, and increase customer satisfaction.
We look forward to reporting to you on additional new orders
that our sales and marketing teams are vigorously working
on.".
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.
