EASTON, PA - March 13, 2002 -- Paragon
Technologies, Inc. (AMEX: PTG), a leading deliverer of "smart"
materials handling solutions, including systems, technologies,
products and services, today announced that Elmer D. Gates
has resigned his positions as a Director and Chairman of
the Board of Directors of Paragon Technologies, Inc. Bill
Johnson, President and CEO, said, "Paragon appreciates
the major contributions Elmer has made during his five years
on the Board of Directors. After a long career of building
successful businesses, we're grateful that our Company is
a lot stronger because of his leadership."
Other changes made today include the following.
Anthony W. Schweiger, Director, was elected Interim Chairman
of the Board, replacing Mr. Gates. Theodore W. Myers was
elected as a Director of the Company. Ted has extensive
financial experience and retired a First Vice President
with Tucker Anthony, an investment banking firm, and has
been an investment banker for more than 25 years.
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.
