07.06.2018
paragon AG DE0005558696
DGAP-News: Another Milestone for paragon AG - Major Order From Geely Auto Group for New DUSTDETECT(R) Particle Sensors
DGAP-News: paragon AG / Key word(s): Miscellaneous
Another Milestone for paragon AG - Major Order From Geely Auto Group for New
DUSTDETECT(R) Particle Sensors
07.06.2018 / 08:00
The issuer is solely responsible for the content of this announcement.
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Another Milestone for paragon AG - Major Order From Geely Auto Group for New
DUSTDETECT(R) Particle Sensors
- Geely has chosen paragon to supply particle sensors over a period of 7
years
- Production of the sensors to begin at the Chinese factory in the second
half of 2020
- Initial order volume amounts to around EUR 26 million
- Expected follow-up projects with other Geely platforms would lead to a
doubling of the project scope from around 2021
Delbrück, Germany, June 7, 2018 - Today, paragon AG [ISIN DE0005558696]
announced its receipt of a major order from the leading Chinese automobile
and motorcycle manufacturer Geely Auto Group. The project duration will last
for over seven years and will include the delivery of several million
DUSTDETECT(R) particle sensors.
The contract from Geely Auto Group is a decisive success for paragon AG in
the first phase of its introduction of this innovation into the Chinese
market. With this, the company from Delbrück, Germany, is once again
expanding its excellent global position in the area of air quality
management sensors in cars. The large-volume order of DUSTDETECT(R) particle
sensors significantly expands the model portfolio of the Sensors unit.
Production of DUSTDETECT(R) for the first Geely platform will begin in the
second half of 2020. Production for the cars the sensors will be built into
is planned for the first quarter of 2021. Geely is additionally planning to
implement the sensors in other model platforms starting in 2021. This could
lead to the project volume doubling and therefore the extension of the
duration of the contract.
"In the last few months, we have once again ramped up our initiatives in the
Chinese market in order to make strategically important contacts. We're
really excited that these efforts have so quickly led to this major order
from such a well-known and ambitious manufacturer as Geely Auto Group,"
emphasizes Klaus Dieter Frers, Chief Executive Officer and founder of
paragon AG. "The central megatrends that move us, like urbanization and CO2
reduction, are especially important topics in China at the moment. In
combination with the highly dynamic automotive market, this offers great
opportunities for paragon. The contract from Geely shows that our products
are high-value solutions for Chinese manufacturers. Our goal is to swiftly
expand our excellent position in China," adds Wolfgang Ketter, who has been
the General Manager of the paragon Kunshan, China, site for almost four
years. In addition to the successful setup of on-site production, Ketter is
responsible for, so far, gaining five local car manufacturers as paragon
customers.
paragon is the global leading provider in the area of air quality management
sensors in cars and has been developing DUSTDETECT(R) since 2015. The sensor
detects the level of fine dust particles of sizes of 2.5 µm and smaller,
which can reach a humans' alveoli, both inside and outside the vehicle.
Depending on the measurement, the sensor will give a signal to control the
recirculation damper. At the same time, vehicle passengers will be informed
of the current air quality of the vehicle interior. Especially in urban
areas and cities with high traffic volumes, DUSTDETECT(R) provides great
value for passengers' health as a supplement to the proven paragon air
quality sensors and ionization systems.
Profile: Geely Auto Group
Geely Auto Group, listed on the Hong Kong Stock Exchange and headquartered
in Hangzhou, China, is the leading automotive manufacturer in China. It was
founded as a subsidiary of Zhejiang Geely Holding Group in 1997. Geely Auto
Group sells cars under the brands Geely Auto, Lotus, LYNK & CO., PROTON and
Volvo, among others.
The quickly growing company employs over 50,000 employees in 27 production
plants. Geely vehicles are distributed through a network of over 850 dealers
in China and around 350 sales and service subsidiaries in overseas markets.
In 2017, Geely Auto Group sold over 1.25 million units. The company's sales
goal for the current year is set at 1.58 million units.
Profile: paragon AG
paragon AG (ISIN DE0005558696), which is listed in the regulated market
(Prime Standard) of the Frankfurt Stock Exchange, develops, produces and
distributes forward-looking solutions in the field of automotive
electronics, e-mobility and body kinematics. As a market-leading direct
supplier to the automotive industry, the company's portfolio includes the
Electronics operating segment's innovative air-quality management,
state-of-the-art display systems and connectivity solutions, and high-end
acoustic systems. With Voltabox AG (ISIN DE000A2E4LE9), a subsidiary that is
also listed on the regulated market (Prime Standard) of Deutsche Börse AG in
Frankfurt, Germany, the Group is also active in the rapidly growing
Electromobility operating segment with its cutting-edge lithium-ion battery
systems. In the Mechanics operating segment, paragon AG develops and
produces active mobile aerodynamic systems.
In addition to the company headquarters in Delbrück (North Rhine-Westphalia,
Germany), paragon AG and its subsidiaries operate sites in Suhl (Thuringia,
Germany), Nuremberg and Landsberg am Lech (Bavaria, Germany), St. Georgen
(Baden-Württemberg, Germany), Bexbach (Saarland, Germany) and Aachen (North
Rhine-Westphalia, Germany) as well as in Kunshan (China) and Austin, Texas
(USA).
Financial Press & Investor Relations Contact
paragon AG
Dr. Kai Holtmann
Artegastrasse 1
33129 Delbrück, Germany
Phone: +49 (0) 52 50 - 97 62-140
Fax: +49 (0) 52 50 - 97 62-63
Email: [email protected]
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07.06.2018 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.
Archive at www.dgap.de
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Language: English
Company: paragon AG
Artegastraße 1
33129 Delbrück
Germany
Phone: +49 (0)5250 97 62 - 0
Fax: +49 (0)5250 97 62 - 60
E-mail: [email protected]
Internet: www.paragon.ag
ISIN: DE0005558696, DE000A1TND93, DE000A2GSB86
WKN: 555869, A1TND9, A2GSB8
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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693153 07.06.2018
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