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

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 customers - 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). Contact paragon AG Schwalbenweg 29 33129 Delbrück Germany 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 --------------------------------------------------------------------- 2015-07-21 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 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 --------------------------------------------------------------------- 379651 2015-07-21