PARAGON
TECHNOLOGIES’ SI SYSTEMS BRAND RECEIVES A SYSTEM EXPANSION ORDER TOTALING
APPROXIMATELY $900,000
-
- - - -
EASTON, PA — August
3, 2004 -- Paragon Technologies, Inc. (AMEX:PTG), a leading supplier
of “smart” material handling solutions, including systems, technologies,
products and services, announced today that its SI Systems brand received
an order totaling approximately $900,000 to expand an existing system
originally installed by SI in the late 1990s. SI will design,
build, and install their proprietary transportation conveyor into a
distribution center in Brampton, Ontario. Terms of the contract
were not disclosed.
The client, one of Canada’s
most shopped retailers, provides a unique mix of products and services
at over 1,000 stores, which include interrelated businesses engaged
in retail, financial services, and petroleum.
Len Yurkovic, President
and CEO of Paragon Technologies, states, “Having already installed large
systems for our client at their two largest distribution centers in
Ontario, we are pleased that they continue to call on SI to support
their expansion programs needed to handle the added volume brought on
by their sales growth. We are also encouraged that our towline
technologies are being utilized in a growing number of applications
due to their proven reliability and ergonomically friendly design.”
SI has installed similar towline-based system solutions in hundreds
of locations worldwide, including assembly plants, distribution centers
for other large retail chains, military facilities, and bulk mail
processing centers.
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.
|
|
|
|
