PARAGON TECHNOLOGIES' SI/BAKER JOINT VENTURE LANDS $1.5
MILLION IN NEW CONTRACTS
EASTON, PA - March 15, 2002 -- Paragon
Technologies, Inc. (AMEX: PTG), a leading deliverer of "smart"
materials handling solutions, including systems, technologies,
products and services, today announced that its SI/BAKER
joint venture was awarded two new contracts with a combined
value of approximately $1.5 million.
Prescription Fulfillment
System for Specialty Drug Distribution
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The first contract is a $1.03 million order
to provide an automated prescription fulfillment system
for a specialty drug distribution organization. The SI/BAKER
automated pharmacy fulfillment system will be capable of
initially processing up to 2,400 prescriptions per shift.
The system will have the ability to expand with the addition
of conveyor and stations. Completion of the pharmacy fulfillment
system is scheduled for second quarter 2002.
Prescription Fulfillment
System Expansion
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The second contract is a $.45 million order
to provide an expansion to an automated prescription fulfillment
system previously installed by SI/BAKER.
The SI/BAKER automated pharmacy fulfillment
system expansion will increase the initial design capacity
of 10,000 prescriptions/lines per shift. In addition to
the capacity expansion, a perpetual inventory control module
will be incorporated into the system functionality. This
new module will provide full lot control and expiration
date monitoring for the system. Completion of the pharmacy
fulfillment system expansion is scheduled for second quarter
2002. Bill Johnson, President and CEO of Paragon Technologies,
said, "We are excited about the continued growth in the
specialty drug distribution and central fill segments of
the prescription fulfillment market, and look forward to
implementing similar projects at other pharmaceutical and
prescription fulfillment firms across the United States."
About SI/BAKER SI/BAKER, INC., a joint
venture company, is the leading supplier of automated prescription
fulfillment systems for high volume pharmacies. SI/BAKER
has installed over 50 integrated prescription fulfillment
systems, ranging in size from 1,000 to over 60,000 prescriptions
per day, for mail order, central fill, and Internet pharmacy
applications. SI/BAKER employs advanced engineering and
proven technology to create the most accurate and efficient
pharmacy systems in the industry.
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.
