DGAP-News: paragon AG / Key word(s): Miscellaneous

2015-07-21 / 11:34


Grand opening in Texas: Numerous VIPs attend opening of new plant at
paragon's Voltabox subsidiary

  - Spectacular new building directly next to freeway

  - Guests include numerous politicians, local business leaders and

  - Launch of fully automated assembly line for battery packs

  - Strategic partners from Germany also on board

Delbrück, July 21, 2015 - Voltabox of Texas, Inc., the US subsidiary of
paragon AG, yesterday celebrated the official opening of its new plant in
Leander near Austin (Texas, USA) together with numerous guests. Through to
completion of this spectacular new building, Voltabox had since September
2014 temporarily manufactured its products in leased premises. On around
2,000 square meters, Voltabox is now operating the first fully automated
assembly line for battery packs. Further lines are set to follow. Alongside
Voltabox, parts of the same building will also be let to German partners of
Voltabox for use as their own US offices.

Comments Klaus Dieter Frers, founder and CEO of paragon AG: "Nine months
after the groundbreaking ceremony we are now ready for operations with our
own plant in Texas. What has emerged is a modern building - one whose
unusual architecture alone makes it stand out within Texas - and a real
showroom for the company. We are particularly glad to have brought our
German partners on board. Triathlon intends to supply US customers in the
logistics industry with Voltabox battery packs from Leander. Aumann - the
automation expert that manufactured our production lines - is set to follow
at a later date. All this will create a world-class development, production
and sales center. We have thus implemented a further component of our
internationalization strategy in the US in what is - as far as I am aware -
an unprecedented form."

Throughout the opening day, numerous local politicians and business leaders
- as well as customers, partners and suppliers from various other US states
- took the opportunity to beef themselves up with a typical Texan barbecue,
enjoy live music from a well-known band from nearby music center Austin,
and learn more about the latest Voltabox technologies. Frers stressed to
the guests just how important the Texan plant is for paragon Group's
further growth plans. The plant near Austin is not only intended to supply
battery packs to customers in the bus and logistics industries. paragon
aims to extend its production range at a later date and provide automakers
in North America and Mexico with other domestically manufactured products
from its portfolio as well.

Here too, certification under the Buy American Act is a prerequisite.
Voltabox of Texas obtained certification that well over 60% of its value
creation is based in the US at the end of 2014 already - a key factor not
only to qualify as a supplier to US public sector institutions. Large parts
of the private sector also call for local production when selecting their
business partners.

Adds Klaus Dieter Frers: "We have already successfully acquired several
promising orders on the spot, confirming our decision to come to the US.
There is enormous potential here - and Voltabox offers us good
opportunities to add a further chapter to our success story."

Company profile
Listed in the regulated market (Prime Standard) of Deutsche Börse AG in
Frankfurt am Main, paragon AG develops, produces, and sells advanced
automotive electronics solutions. The portfolio of this direct supplier to
the automotive industry includes products in the following business
segments: Sensors, Acoustics, Cockpit, Electromobility, and Body
Kinematics. Headquartered in Delbrück (North Rhine-Westphalia), paragon AG
has branches in Suhl (Thuringia), Nuremberg (Bavaria), St. Georgen
(Baden-Württemberg) and Bexbach (Saarland), as well as subsidiaries in
Bexbach (SphereDesign), Shanghai (China) and Austin (Texas, USA).

paragon AG
Schwalbenweg 29
33129 Delbrück
Tel.: +49 (0) 52 50 - 97 62-0
Fax: +49 (0) 52 50 - 97 62-60
Internet: www.paragon.ag
E-mail: info@paragon.ag

Financial press and investor relations contact 
Instinctif Deutschland GmbH
Michael Müller.: Tel.: +49 (0) 221/42075-0, E-mail:


2015-07-21 Dissemination of a Corporate News, transmitted by DGAP - a
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Language:    English                                                    
Company:     paragon AG                                                 
             Schwalbenweg 29                                            
             33129 Delbrück                                             
Phone:       +49 (0)5250 97 62 - 0                                      
Fax:         +49 (0)5250 97 62 - 60                                     
E-mail:      investor@paragon.ag                                        
Internet:    www.paragon.ag                                             
ISIN:        DE0005558696, DE000A1TND93                                 
WKN:         555869, A1TND9                                             
Listed:      Regulated Market in Frankfurt (Prime Standard); Regulated  
             Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,  
End of News    DGAP News-Service  
379651 2015-07-21