ELECTRONIC ENTERTAINMENT PRODUCTS
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EASTON, PA — June 10, 2003 -- Paragon Technologies,
Inc. (AMEX: PTG), a leading supplier of “smart” material handling
solutions, including systems, technologies, products and services, today announced
that its SI Systems brand was awarded a contract for $525,000 from a leading
provider of electronic entertainment products to design, build, and install
a state-of-the-art automated order selection system. The system will incorporate
SI Systems’ DISPEN-SI-MATICT technology and is scheduled
for completion in the second half of 2003. Terms of the contract were not
disclosed.
Bill Johnson, President and CEO of Paragon Technologies, states,
“This is an exciting order, and we are extremely pleased that our new
customer trusts us to provide this advanced material handling automation.
We are continuing our strong marketing efforts and believe that the creativity
associated with our unique automation solutions for distribution applications
will continue to attract orders from existing and new customers as their distribution
requirements expand.”
About Paragon Technologies
Paragon Technologies is a
leader in integrating material 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. One of the top material handling systems
suppliers worldwide, Paragon’s leading clients have included the United States
Postal Service, General Motors, IBM, BMG, DaimlerChrysler, Ford, Peterbilt,
Harley-Davidson, Walgreens, and Clark Equipment.
Cautionary Statement. Certain
statements contained herein are not based on historical fact and are "forward-looking
statements" within the meaning of the Private Securities Litigation Reform
Act of 1995 and the Securities and Exchange Commission rules, regulations and
releases. Paragon intends that such forward-looking statements be subject to the
safe harbors created hereby. Among other things, the forward-looking statements
regard Paragon's earnings, liquidity, financial condition, and certain operational
matters. Words or phrases denoting the anticipated results of future events, such
as "anticipate," "does not anticipate," "should help
to," "believe," "estimate," "is positioned,"
"expects," "may," "will," "is expected,"
"should," "continue," and similar expressions that denote
uncertainty, are intended to identify such forward-looking statements. Paragon's
actual results, performance, or achievements could differ materially from the
results expressed in, or implied by, such "forward-looking statements:"
(1) as a result of risks and uncertainties associated with Paragon's restructuring,
including the failure to achieve anticipated operating savings, and the possibility
that the restructuring charges will be greater than anticipated; (2) as a result
of factors over which Paragon has no control, including the strength of domestic
and foreign economies, sales growth, competition, and certain cost increases;
or (3) if the factors on which Paragon's conclusions are based do not conform
to its expectations.
