Subsidiaries of paragon AG apply for the start of insolvency procedures
10/07/2009
DGAP-Ad-hoc: Subsidiaries of paragon AG apply for the start of insolvency procedures
paragon AG / Insolvency
07.10.2009
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Subsidiaries of paragon AG apply for the start of insolvency procedures
- paragon firstronic GmbH not affected for now
Delbrück, 07.10.2009. On October 5, 2009 the board of paragon AG has
submitted an application to the District Court of Paderborn to institute
insolvency proceedings due to inability to pay. According to plan the
subsidiaries paragon fidelio GmbH (Suhl), paragon facilio GmbH (Delbrück)
and paragon finesse GmbH (Delbrück) have also applied for the start of
insolvency procedures.
Due to current negotiations the board of paragon AG is confident that the
subsidiary paragon firstronic GmbH based in Suhl/Thuringia can be kept out
of any insolvency procedures. paragon firstronic manufactures industrial
electronics with a workforce of 73 employees.
paragon AG is a direct supplier to the automotive industry and is listed on
the Deutsche Börse Prime Standard index in Frankfurt/Main, Germany. The
Company develops, manufactures, and markets innovative solutions in its
Automotive (Sensors/Actuators and Cockpit Systems) and Electronic Solutions
divisions. Its product portfolio includes the world's leading AQS air
quality sensor by far as well as hands-free speaking equipment and
instrumentation systems. In addition to its headquarters in Delbrück, North
Rhine-Westphalia, paragon also operates locations in Suhl, Thuringia; St.
Georgen, Baden-Württemberg; Nuremberg, Bavaria; and Heidenheim,
Baden-Württemberg. In fiscal 2007, the paragon Group generated sales
totaling EUR108.9 million with a workforce of 594 employees.
paragon AG
Schwalbenweg 29
33129 Delbrück
Phone: +49 (0) 52 50 - 97 62-0
Fax: +49 (0) 52 50 - 97 62-60
Internet: www.paragon-online.de
E-mail: info@paragon-online.de
Head of Corporate Communications
Matthias Hack
Phone: +49 (0) 52 50 - 97 62-141
Fax: +49 (0) 52 50 - 97 62-60
E-mail: matthias.hack@paragon-online.de
Corporate Communications
Marc Götte
Phone: +49 (0) 52 50 - 97 62-161
Fax: +49 (0) 52 50 - 97 62-60
E-mail: marc.goette@paragon-online.de
07.10.2009 Financial News transmitted by DGAP
---------------------------------------------------------------------------
Language: English
Company: paragon AG
Schwalbenweg 29
33129 Delbrück
Deutschland
Phone: +49 (0)5250 97 62 - 0
Fax: +49 (0)5250 97 62 - 60
E-mail: investor@paragon-online.de
Internet: www.paragon-online.de
ISIN: DE0005558696
WKN: 555869
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------------
back