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paragon AG opens up new market segment for Voltabox subsidiary via strategic partnership with leading mining equipment and services provider

DGAP-News: paragon AG / Key word(s): Miscellaneous
paragon AG opens up new market segment for Voltabox subsidiary via strategic
partnership with leading mining equipment and services provider

28.06.2016 / 07:00
The issuer is solely responsible for the content of this announcement.

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paragon AG opens up new market segment for Voltabox subsidiary via
strategic partnership with leading mining equipment and services provider

- Exclusive strategic partnership with leading mining equipment and
services provider Joy Global Inc.

- Voltabox of Texas, Inc. to develop smart battery systems for various
mining equipment

- First deliveries of complex battery systems planned for fiscal year
2017

- Global trend towards climate-friendly electromobility now top growth
driver at paragon AG

Delbrück, June 28, 2016 - paragon AG [ISIN DE0005558696] today announced
the strategic partnership agreed between its US subsidiary Voltabox of
Texas, Inc. and leading mining equipment and services provider Joy Global
Inc. This cooperation is expected to be developed across all platforms and
electromobility is now definitively the top growth driver at the Delbrück-
based automotive supplier.

Joy Global is a Fortune 1000 company listed on the NYSE with locations in
20 countries and roots dating back to 1884. Its integrated technology,
services and solutions are a critical component of operations in a variety
of commodity markets including energy, hard rock and industrial minerals.

In the first stage of this strategic partnership, paragon's wholly owned
subsidiary Voltabox of Texas, Inc. will develop smart battery systems for
use in some of the company's underground mining equipment. The benefits of
lithium-ion technology - coupled with advanced energy system design, active
thermal regulation and smart battery management from Voltabox(R) - will
give this equipment performance and cost advantages not achievable with any
other drive technology currently available on the market.

"Mining companies worldwide strive to improve safety, lower production
costs, and increase overall productivity. Moreover, environmental
legislation and rising safety standards present great challenges in many
countries. Widespread deployment of Voltabox(R) battery systems is
therefore a game-changer", comments Klaus Dieter Frers, founder and CEO of
paragon AG. "We are delighted to say that this partnership will enable us
to set a major milestone in our company's history."

"We are excited to share the significant performance and economic benefits
we expect of these new battery systems with our global mining customers,"
said Peter Salditt, president of underground mining for Joy Global. "As an
essential partner to the mining industry, we are always looking at new ways
to help customers lower their total cost of operations and safely optimize
performance. Working with Voltabox on these new systems is another step
forward for our wide range of products."

Further information about paragon AG is available at www.paragon.ag/en/
investors.

Company profile

Listed in the regulated market (Prime Standard) of Deutsche Börse AG in
Frankfurt am Main, paragon AG (ISIN DE0005558696) develops, produces, and
sells advanced automotive electronics solutions. The portfolio of this
direct supplier to the automotive industry includes products in the
following business divisions: 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), Kunshan (China), and Austin (Texas,
USA).


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28.06.2016 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
Schwalbenweg 29
33129 Delbrück
Germany
Phone: [phone] - 0
Fax: [phone] - 60
E-mail: [e-mail]
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
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474767 28.06.2016