DGAP-News

paragon AG: paragon subsidiary Voltabox Deutschland GmbH forms strategic partnership with Triathlon Batterien GmbH

DGAP-News: paragon AG / Key word(s): Alliance
paragon AG: paragon subsidiary Voltabox Deutschland GmbH forms
strategic partnership with Triathlon Batterien GmbH

30.03.2015 / 10:58

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paragon subsidiary Voltabox Deutschland GmbH forms strategic partnership
with Triathlon Batterien GmbH

- Partnership with leading provider of drive batteries for logistics
applications opens up new market segment

- Long-term master agreement covering several thousand battery modules a
year

- Annual revenue of several million euros secured

Delbrück, March 30, 2015 - paragon's subsidiary Voltabox Deutschland GmbH
has agreed a strategic partnership for the European market with Triathlon
Batterien GmbH, Glauchau. At core, this exclusive agreement involves
supplying lithium ion batteries for use in intralogistic solutions such as
electric forklift trucks, driverless transport systems etc.. Triathlon is
one of the leading providers in Germany of traditional lead acid batteries
in this market and aims to further expand its position with
high-performance lithium ion batteries from Voltabox. Alongside its
strategic partnership with Vossloh-Kiepe for electric buses Voltabox has
now accessed its second major market segment.

Voltabox will supply several hundred battery modules to Triathlon in 2015.
From 2016 onwards, output is scheduled to rise to several thousand modules
a year. paragon assesses the revenues expected over the next five years in
a double-digit million euro range.

Comments Klaus Dieter Frers, CEO of paragon AG: "We have long worked
towards building this partnership. We are delighted that this cooperation
with Triathlon will enable us to access a further complete and very
interesting market segment, and that without incurring the great expense
necessary to establish proprietary sales structures for this industrial
market. Further, this exclusive partnership offers not only enormous
revenue potential but also great planning reliability as the contractually
agreed minimum purchase volumes will add a substantial base capacity for
the highly automated production at Voltabox over several years."

Triathlon, a leading direct supplier and equipper for intralogistics drive
batteries, has nationwide sales and service structures and suitable
partners in other European countries. Just at the end of 2014, Triathlon