paragon AG / Insolvency


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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



Head of Corporate Communications

Matthias Hack

Phone: +49 (0) 52 50 - 97 62-141

Fax: +49 (0) 52 50 - 97 62-60


Corporate Communications

Marc Götte

Phone: +49 (0) 52 50 - 97 62-161

Fax: +49 (0) 52 50 - 97 62-60


07.10.2009  Financial News transmitted by DGAP

Language:     English
Company:      paragon AG
              Schwalbenweg 29
              33129 Delbrück
Phone:        +49 (0)5250 97 62 - 0
Fax:          +49 (0)5250 97 62 - 60
ISIN:         DE0005558696
WKN:          555869
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, München, Düsseldorf, Hamburg, Stuttgart
End of News                                     DGAP News-Service