paragon concludes extensive agreement with AGS India

EQS-News: paragon GmbH & Co. KGaA / Key word(s): Alliance paragon concludes extensive agreement with AGS India 18.09.2024 / 12:00 CET/CEST The issuer is solely responsible for the content of this announcement. paragon concludes extensive agreement with AGS India

• Next step in internationalization strategy completed
• Indian automotive supplier AGS Visions Pvt Ltd. and paragon GmbH & Co. KGaA link their product portfolios
• Strong growth expected in the Indian automotive market
• Expansion of cooperation to Europe, China and South Africa

Delbrück, September 18, 2024 - The German paragon GmbH & Co. KGaA [ISIN DE0005558696] has agreed with the Indian automotive supplier AGS Visions Pvt Ltd. to significantly expand the cooperation between paragon and AGS, which has been in place since April 2024. The original plan was to distribute paragon's world-leading air quality sensors to Indian customers via its partner AGS. Now, almost the entire European product portfolio of paragon is to be offered to the Indian market with the support of AGS. Products that paragon Kunshan has already adapted to the market conditions in China and produces there will also be added. In return, paragon will offer AGS automotive electronics and lighting products to the European and Chinese markets. AGS will later develop and industrialize its own products based on paragon technologies, which may find their way back to Europe and China.

When the Managing Director of the Indian automotive supplier AGS, Mr. Inderpal Singh, accompanied by Director Haneet Singh, visited the East Westphalian automotive supplier paragon in Delbrück on 10 September 2024, it quickly became clear that the "chemistry" was right. "Mr. Inderpal Singh and I speak the same language. We understood each other immediately and have the same view of the future of the global automotive industry," says Klaus Dieter Frers, founder and CEO of paragon GmbH & Co. KGaA. "The agreement with AGS is a decisive step in our internationalization strategy. I am convinced that India will become the new China."