paragon AG: paragon opens first plant in China
11/05/2015
DGAP-News: paragon AG: paragon opens first plant in China
DGAP-News: paragon AG / Key word(s): Miscellaneous/Strategic Company
Decision
2015-11-05 / 09:58
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paragon opens first plant in China
- Opening ceremony with many politicians, local business leaders, and
customers as guests
- Launch of production at German Industrial Park in Kunshan
- Air Quality Sensor AQS first product to roll off assembly line
- From 2016 battery systems also to be assembled for the Chinese market
- Synergy effects from proprietary lithium ion battery cells expected in
future
Delbrück, November 5, 2015 - paragon AG opened its new plant in Kunshan
(China) on November 4, 2015. Having been represented in China with a sales
office just a few kilometers away in Shanghai since 2012 already, this is
now paragon's first production site in this major country. paragon already
acquired its first customers and orders from the domestic automotive
industry in advance. Following the plant opening in Texas (USA), this marks
the second groundbreaking step in paragon's internationalization strategy
this year.
Comments Klaus Dieter Frers, founder and CEO of paragon AG: "Less than 10
months since our decision to open a Chinese production site we are already
up and running. We found excellent conditions in Kunshan, and that directly
next to numerous other medium-sized German companies. The key focus
initially will be on our world-leading air quality sensor products, of
course, which should be rolling off the assembly line very soon. We have
already received several orders from Chinese customers. In China we have
thus put in place a further major component of our internationalization
strategy and our operations can now get started right away."
One absolutely key topic in China is the high level of air pollution in the
country's fast-growing megacities. In response to this, the Chinese
Ministry of the Environment is expected to act soon to turn the "Passenger
Car Air Quality Assessment Guidelines" introduced in 2012 into a mandatory
standard. This will further boost the already high level of demand for
vehicle interior solutions. Adds Frers: "We have really hit the mark here
and are therefore offering even more extensive vehicle in-cabin air quality
solutions - such as our ionizer systems and particle sensors."
Wolfgang Ketter has assumed the management of paragon's Chinese business.
Ketter is a proven production expert with more than 25 years of experience
in the automotive industry, of which numerous years as plant director for
an automotive supplier in China.
Moreover, the topic of electromobility together with paragon's brand
"Voltabox" is set to play a major role in China in the near future. Within
a "fabless" concept, from the first quarter of 2016 paragon will have
access for the first time to proprietary lithium ion battery cells. These
will be produced by a specialist manufacturer in China exclusively for
Voltabox and will be governed by the company's extensive quality assurance
requirements. This will enable Voltabox to cover the entire battery
assembly value chain, a factor that will generate valuable synergy effects.
The objective for the first stage is to supply the Chinese market with
battery packs for purely electric buses and utility vehicles, as well as
with starter batteries for conventional cars and motorcycles.
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), Kunshan (China), and Austin (Texas, USA).
Contact
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:
michael.mueller@instinctif.com
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2015-11-05 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: paragon AG
Schwalbenweg 29
33129 Delbrück
Germany
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,
Stuttgart
End of News DGAP News Service
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