PARAGON TECHNOLOGIES’
ERMANCO BRAND AWARDED A CONTRACT FOR APPROXIMATLEY $250,000 TO PROVIDE
A MATERIAL HANDLING SYSTEM AT A MAJOR COMMERCIAL MAIL FACILITY
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EASTON, PA —
January 22, 2004 -- Paragon
Technologies, Inc. (AMEX:PTG), a leading supplier of “smart” material
handling solutions, including systems, technologies, products and services,
announced today that its Ermanco brand was awarded a contract for approximately
$250,000 to provide another material handling system to handle trays
of mail, from letter sorting to shipping, at a major commercial mail
facility. Terms of the contract were not disclosed.
Len
Yurkovic, President and CEO of Paragon Technologies, states, “Our customer
recognizes the advantages of utilizing Ermanco’s patented non-contact
accumulation technology. We value their business and look forward to
working with them on future opportunities.”
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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