EASTON, Pa., May 11 /PRNewswire-FirstCall/ -- Paragon Technologies, Inc. (Pink Sheets: PGNT), a leading supplier of "smart" material handling systems and "software-driven" warehouse and distribution center solutions, announced today that, in accordance with its previously announced intention, the Company filed a Certification and Notice of Termination and Suspension of Duty to File on Form 15 with the Securities and Exchange Commission ("SEC") to suspend its reporting obligations under Section 15(d) of the Securities Exchange Act of 1934 ("Exchange Act").
As such, the Company expects to cease filing reports with the SEC effective immediately. The Company expects that the deregistration of its common stock will become effective 90 days after the date of filing of the Form 15 with the SEC. The Company is eligible to deregister its common stock because it has fewer than 300 shareholders of record of its common stock. Paragon Technologies had previously delisted from the NYSE Amex by filing a Form 25 on April 30, 2009.
Paragon's SI Systems' branded technologies drive productivity at Fortune 1000 companies and the United States Government.
About Paragon Technologies Paragon Technologies is a leader in integrating material handling systems and creating automated solutions for material flow applications. SI Systems' branded technologies and material handling solutions address unit assembly in manufacturing operations and order fulfillment applications. One of the top material handling systems suppliers worldwide, SI Systems' leading clients have included the United States Postal Service, BMG, Peterbilt, Honda, and Maybelline.
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, review of strategic alternatives, and other 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 factors over which Paragon has no control, including the strength of domestic and foreign economies, sales growth, competition, and certain cost increases; and (2) if the factors on which Paragon's conclusions are based do not conform to its expectations. The forward-looking statements contained in this press release may become outdated over time. Paragon does not assume any responsibility for updating any forward-looking statements. Furthermore, achievement of the objectives of the Company is subject to certain risks, including, but not limited to, those risks outlined in Paragon's filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2008.
This press release and prior releases are available at http://www.ptgamex.com/. DATASOURCE: Paragon Technologies, Inc.
CONTACT: Leonard S. Yurkovic, Acting CEO of Paragon Technologies, +1-610-252-3205, or +1-610-252-3102, Fax Web Site: http://www.ptgamex.com/
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