Automotive Supplier paragon Opens New Site in Limbach for Artificial Intelligence and Interior Components

- Tobias Hans, Minister-President of Saarland, inaugurates new development and production center for over 100 employees

- Consolidation of different paragon sites in booming regions

- Assistant solutions based on artificial intelligence and automobile interior components make up core of activities

Delbrück/Limbach, December 6, 2019 - paragon [ISIN DE0005558696] officially inaugurates its new site in Limbach, Saarland, today. The advanced building combines the best from the worlds of interior, artificial intelligence and manufacturing expertise.

"Limbach is the ideal solution for us to consolidate our activities dedicated to the operation of vehicles. We are harnessing clear synergies. The new site is an important building block for the future of paragon," says Klaus Dieter Frers, founder and Chairman of the Board of paragon.

In terms of transport connections and strategic aspects the area is conveniently located between Saarbrücken and Kaiserslautern, and it is in immediate proximity to numerous high-class research facilities. The Group is consolidating key activities of the Digital Assistance and Interior operating segments in Limbach. The focus here is on voice assistance solutions based on artificial intelligence as well as the development and manufacturing of products for the Interior operating segment, such as cockpit systems and, in the future, acoustics products. paragon semvox GmbH, a spin-off of the German development center for artificial intelligence (DFKI) based in Saarbrücken, is headed by Dr. Norbert Pfleger.

High-profile guests from the worlds of politics, business and research have confirmed their attendance at the opening ceremony. The Minister-President of Saarland, Tobias Hans, is due to give a welcome address and, together with Klaus Dieter Frers, cut the symbolic inauguration ribbon.

"This state-of-the-art building offers the best conditions and capacities to sustainably drive forward our Interior operating segment, which is already important today, as well as the ambitious growth plans of paragon semvox GmbH in the area of digital assistance solutions," explains Dr. Matthias Schöllmann, managing director of paragon GmbH and who is responsible for the Automotive business.

"We in the Saarland are one of the most important automotive sites in Germany with a high density of innovative suppliers. Now, it's up to the regional economic policy and local companies to get the economic infrastructure ready for digitalization and innovation. The opening of the new site of paragon and its subsidiary paragon semvox shows how an innovation strategy that actually delivers innovation must look. The investment in the Kirkel-Limbach site is a strategic decision and truly a positive sign for the further development of the Saarland automotive and economic region," comments Minister-President Tobias Hans on the occasion of the inauguration.

The building in Limbach, renovated under the direction of site and plant manager Peter Stief, stands out through its great variability and future viability with a special combination of office and production space as well as its own canteen. The site has a total area of 5,300 square meters, of which 1,900 square meters are available for production. Here, paragon employs 104 workers initially.

paragon presents its digital assistant EDWIN as part of a product portfolio introductino. More than a software for voice assistance, EDWIN is also a hardware component which is available as retrofitting solution for OEMs. Furthermore, head of the Interior operating segment Markus Barth presents product highlights from the Interior business unit's Acoustics and Cockpit departments. These feature hands-free microphones, sound systems and external speakers for electric vehicles, high-quality display and touch-operated instruments, and solutions for the wireless charging of smartphones.

Profile: paragon GmbH & Co. KGaA

paragon GmbH & Co. KGaA (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, body kinematics and e-mobility. 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. In the Mechanics operating segment, paragon develops and produces active mobile aerodynamic systems. With Voltabox AG (ISIN DE000A2E4LE9), a subsidiary that is also listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange, the Group is also active in the rapidly growing Electromobility operating segment with its cutting-edge lithium-ion battery systems developed in-house.
In addition to the company headquarters in Delbrück (North Rhine-Westphalia, Germany), paragon GmbH & Co. KGaA and its subsidiaries operate sites in Suhl (Thuringia, Germany), Landsberg am Lech and Neu-Ulm (Bavaria, Germany), Markgrönigen and St. Georgen (Baden-Württemberg, Germany), Limbach (Saarland, Germany), Aachen (North Rhine-Westphalia, Germany) as well as in Kunshan (China) and Austin (Texas, USA).
Additional information about paragon can be found at www.paragon.ag.

Capital Market & Press Contact

paragon GmbH & Co. KGaA

Stefan Westemeyer
Artegastrasse 1
33129 Delbrück, Germany
Phone: +49 (0) 52 50 - 97 62-141
Fax: +49 (0) 52 50 - 97 62-63
Email: [email protected]