We Build Productivity
 

 

LEONARD S. YURKOVIC NEW PARAGON TECHNOLOGIES PRESIDENT AND CHIEF EXECUTIVE OFFICER
- - - - -
EASTON, PA — October 8, 2003 -- Paragon Technologies, Inc. (AMEX: PTG), a leading supplier of “smart” material handling solutions, including systems, technologies, products and services, has appointed Leonard S. Yurkovic as President and Chief Executive Officer.  Mr. Yurkovic previously served as the Company’s President and Chief Executive Officer from 1988 to 1999.
He replaces William R. Johnson who resigned his positions as President and Chief Executive Officer and a member of Paragon’s Board of Directors to pursue other opportunities.
In addition to being named President and Chief Executive Officer, Mr. Yurkovic will continue as Vice Chairman of Paragon’s Board of Directors.  Mr. Yurkovic returned to the Company’s Board of Directors last year after retiring from the Company as Chief Executive Officer and a member of the Board of Directors in 1999.  Mr. Yurkovic started with the Company in 1979 as Vice President - Finance.  Throughout the 1980s, Mr. Yurkovic was appointed to several executive-level positions at the Company, having been named President and Chief Operating Officer in 1985, Managing Director of European Operations in 1987, and then President and Chief Executive Officer in 1988.  Prior to his tenure at the Company, Mr. Yurkovic was Division Controller at The Harris Corporation, Champlain, New York.  A former Lieutenant in the United States Navy, Mr. Yurkovic graduated from Lehigh University with his MBA in Finance and the United States Naval Academy with a B.S. in Engineering.
Mr. Yurkovic stated, “We thank Bill Johnson for spearheading the Company’s recent strategic divestment of its 50% ownership in SI/BAKER, which generated cash and enabled the Company to pay-off its outstanding senior and subordinated debt.  The Company now has a debt-free balance sheet.  During his tenure at Paragon, Bill was also instrumental in the Company’s 1999 acquisition of Ermanco Incorporated, the subsequent integration of the Ermanco and SI Systems brands, and the successful completion of key customer projects and new technology.  We wish him well in his future endeavors and may rely upon him for future guidance.”

Mr. Yurkovic also stated, “It is expected that the Company will seek deep market penetration utilizing it’s broad base of productivity-enhancing systems and products, holding the leadership positions in all of the markets which it chooses to serve.”

 

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.