Paragon Technologies' SI Systems Brand Awarded a $625,000 Contract for an Automated Assembly Conveyor System
14 Outubro 2008 - 10:30AM
PR Newswire (US)
EASTON, Pa., Oct. 14 /PRNewswire-FirstCall/ -- Paragon
Technologies, Inc. (AMEX:PTG), a leading supplier of "smart"
material handling systems and "software-driven" warehouse and
distribution center solutions, announced today that its SI Systems
brand received an order totaling $625,000 to design, build, and
install an automated conveyor system. This order calls for two
separate conveyor systems, which together will be used to assemble
a variety of fuel-efficient gasoline engines for the Asian market.
The conveyor systems are part of a global automobile manufacturer's
major automation project at a facility located in Korea. This order
is with a large Korean-based systems integrator company who is
designing and supplying production lines and process equipment for
the automobile manufacturer. On this project, SI Systems will be a
major subcontractor to the integrator firm that is designing and
installing a multi-million dollar, large-scale manufacturing
automation project. Len Yurkovic, Acting CEO of Paragon
Technologies, said, "We are delighted at being selected by this
Korean-based integrator company who has recognized SI Systems as a
leading supplier of assembly conveyor technologies, particularly in
engine assembly applications. As the automotive industry at large
continues to develop new fuel-efficient engine technologies, we
have been very successful in working with manufacturers of all
types of vehicles and vehicle subassemblies to utilize our
ergonomically-designed towline conveyor in their assembly process."
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 June 30, 2008. This press
release and prior releases are available at http://www.ptgamex.com/
. DATASOURCE: Paragon Technologies, Inc. CONTACT: Len Yurkovic,
Acting CEO of Paragon Technologies, Inc., +1-610-252-3205, Fax:
+1-610-252-3102 Web site: http://www.ptgamex.com/
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