EASTON, Pa., June 24 /PRNewswire-FirstCall/ -- Paragon Technologies, Inc. (AMEX:PTG), a leading supplier of "smart" material handling assembly conveyor systems and "software-driven" warehouse and distributions systems announced today that its SI Systems brand secured two orders totaling $1.0 million to design, build, and install automated conveyor systems -- one from a major manufacturer of motorcycles, and the other from a manufacturer of fresh bakery products. Terms of the contracts were not disclosed.
The motorcycle assembly system will incorporate ergonomically designed carriers that lift, lower, and rotate fixtured vehicle frames during the assembly process, and will reduce worker fatigue and increase manufacturing productivity. The system will be installed in an existing factory that currently has several other systems previously installed by SI Systems and will significantly boost manufacturing capacity for this particular customer.
The other system will be utilized to transport freshly baked breads, muffins, bagels, and other items from the manufacturing process area into a separate building where the baked goods are packaged and shipped to a variety of food markets, primarily in several Mid-Atlantic States.
Len Yurkovic, Acting CEO of Paragon Technologies, said, "We are delighted that these two highly respected customers have chosen SI Systems for their conveyor systems. We are particularly pleased with the bakery manufacturer's order as it opens up a new and interesting market previously unserved by us." Yurkovic also said, "As demand for productivity-enhancing systems increases, our conveyor technologies are positioned to become integral to a wide range of manufacturers and industries." 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, 2007 and the most recent quarterly report on Form 10-Q for the quarter ended March 31, 2008.
This press release and prior releases are available at http://www.ptgamex.com/. DATASOURCE: Paragon Technologies, Inc.
CONTACT: Len Yurkovic, Acting CEO, Paragon Technologies, +1-610-252-3205, +1-610-252-3102 (Fax) Web site: http://www.ptgamex.com/
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