Paragon Technologies' SI Systems Brand Awarded a $1.1 Million Contract for an Automated Assembly Conveyor System
EASTON, PA - December 18, 2007 -- 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 from Fives Cinetic Automation totaling $1.1 million to design, build, and install an automated conveyor system. This order calls for two separate conveyor systems, one of which will be used to assemble a variety of fuel-efficient gasoline engines, and the other conveyor system will be used for a new model diesel engine. The conveyor systems are part of an engine manufacturer's major automation project at a New York facility. Fives Cinetic Automation is part of Fives Group, Inc., a worldwide leader in designing and supplying production lines and process equipment for major industrial companies. On this project, SI Systems will be a major subcontractor for Fives Cinetic Automation on a multi-million dollar, large-scale manufacturing automation project.
Len Yurkovic, Acting CEO of Paragon Technologies, said, "We are delighted at being selected by Fives Cinetic Automation and being recognized as a leading supplier of assembly conveyor technologies. 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 engines to utilize our ergonomically designed towline conveyor in their assembly process."
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 Oshkosh Truck, and Maybelline.
