Paragon Technologies' SI Systems Brand Receives an Order Totaling Approximately $3.4 Million
25 Novembro 2008 - 12:15PM
PR Newswire (US)
EASTON, Pa., Nov. 25 /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 approximately $3.4 million from an
internationally recognized hospital. Terms of the contract were not
disclosed. SI Systems will provide and install its proprietary
LO-TOW(R) transportation conveyor system as part of an expansion to
the conveyor system originally installed by the Company in 2006.
This project is part of the hospital's building expansion, and the
system will be used to transport a varied fleet of carts carrying
clean linens and supplies between the existing hospital building,
and two new hospital towers. One of the towers will be for a new
children's hospital wing, and the other tower will be dedicated to
adult cardiovascular and critical care. The campus redevelopment
program will encompass nearly 1.5 million square feet of new
facility. The 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 a prominent healthcare organization again chose
our SI LO-TOW(R) technology for their hospital expansion. 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 expanding needs of a well-known hospital." SI Systems
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. 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 September 30, 2008. This
press release and prior releases are available at
http://www.ptgamex.com/. DATASOURCE: Paragon Technologies, Inc.
CONTACT: Leonard S. Yurkovic, Acting CEO, Paragon Technologies,
Inc., +1-610-252-3205, +1-610-252-3102 (Fax) Web site:
http://www.ptgamex.com/
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