PARAGON TECHNOLOGIES’ SI SYSTEMS BRAND AWARDED A $750,000 CONTRACT
FROM A HEALTHCARE INDUSTRY LEADER
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EASTON, PA —
July 24, 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 $750,000 to relocate
and modernize an order fulfillment system for a healthcare industry
leader. The system utilizes SI Systems’ DISPEN-SI-MATIC™
hardware and software technologies and is scheduled for completion
in the first quarter of 2004. 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 this repeat customer trusts
us to modernize their operations. We continue to build on the strength
of our customer relationships and believe that the innovation associated
with our automation solutions for distribution applications will continue
to attract orders from existing and new customers as their requirements
expand.”
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 materials handling
solutions address the needs of the distribution, assembly, and manufacturing marketplace.
SI Systems' branded technologies and materials 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.
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.
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