DGAP-News: paragon AG receives investment grade rating
paragon AG / Key word(s): Miscellaneous
paragon AG receives investment grade rating
- Creditreform upgrades company rating to BBB-
- Stable equity capital ratio, strong profitability and ample liquidity buffer
- Electromobility serving to diversify company's business portfolio
Beyond this top-line growth, paragon AG is also making advances in the current year in its drive to internationalize, particularly in the electromobility segment. "We are currently in the process of building our own production facility in Austin, Texas," added Frers. "In the fourth quarter, we are set to commence production there of battery packs under our global Voltabox brand. Together with Vossloh Kiepe, we now have a major customer signed up for delivery of an expected total of some 1,000 battery packs over the next several years to serve as back-up power for its electric buses. And more customers are already in the pipeline."
Listed on the Frankfurt Stock Exchange (Prime Standard, ISIN DE0005558696), paragon AG develops, produces and sells advanced automotive electronics solutions. The business portfolio of this direct supplier to the automotive industry includes products in the following segments: sensors, acoustics, cockpit, electromobility, and body-kinematics. Headquartered in the northwestern German city of Delbrück, paragon AG has three other locations in Germany - in Suhl, Nuremberg and St. Georgen - as well as a sales office in Shanghai and a production subsidiary in Austin, Texas.
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05.06.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG.
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