PARAGON TECHNOLOGIES’
SI SYSTEMS BRAND RECEIVES A $1.8 MILLION SYSTEM ORDER FROM THE JOHNS
HOPKINS HOSPITAL
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EASTON, PA — August 10, 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 $1.8 million from The Johns Hopkins Hospital in Baltimore,
Maryland.
SI will provide and
install its proprietary LO-TOW® transportation conveyor system
which will be used to transport a varied fleet of carts carrying clean
linens and supplies between existing and new hospital buildings that
are part of a campus redevelopment program.
Originally opened in
May 7, 1889, The Johns Hopkins Hospital is internationally recognized
for its outstanding patient care, medical research, and teaching.
Len Yurkovic, President
and CEO of Paragon Technologies, states, “We are delighted that such
a prominent organization as The Johns Hopkins Hospital chose our SI
LO-TOW® technology for their delivery system. This proven
technology has been used in a similar fashion, connecting separate,
adjoining buildings in warehousing or manufacturing applications, and
we are excited about applying this technology to address the needs of
The Johns Hopkins Hospital.”
SI has installed similar towline-based system solutions in hundreds
of locations worldwide, including assembly plants, distribution centers,
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.
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