paragon GmbH & Co. KGaA / DE0005558696
29.07.2024 - 08:29:50New paragon lead plant inaugurated in China
| paragon GmbH & Co. KGaA / Key word(s): Expansion 29.07.2024 / 08:29 CET/CEST The issuer is solely responsible for the content of this announcement. Relocation from the Kunshan plant, which opened in 2015, to a state-of-the-art new building in the immediate vicinity Now over 4,000 square meters of production and office space Grand opening in mid-July with numerous guests from politics, customers, suppliers and partner companies New plant lays the foundation for further future growth with Chinese car manufacturers Global lead plant for future production facilities Construction time was only six months - smooth relocation during ongoing production in three weeks Delbrück, July 29, 2024 - paragon GmbH & Co. KGaA [ISIN DE0005558696] officially opened its new plant in Kunshan, China, in mid-July. This state-of-the-art plant replaces the plant in the immediate vicinity, which opened nine years ago and had become too small, and creates the conditions for the planned growth with Chinese car manufacturers. Kunshan - around an hour's drive northwest of Shanghai - has been the location for all of the Chinese activities of the direct supplier to the automotive industry based in Delbrück, North Rhine-Westphalia, since 2015. Initially, air quality sensors and microphones developed in Germany were manufactured locally, but today the product range is much broader. In addition to various products for improving the air quality in the vehicle interior, it has long since also included cable assemblies and, in recent years, adaptive spoilers for extending the range, which are particularly popular in China for electric vehicles. In future, paragon's entire product range will be offered there. The Chinese paragon subsidiary has been managed by Wolfgang Ketter since 2015. "We are particularly proud of the fact that we have succeeded in building up our own competent development team here in recent years, which has developed the paragon products adapted for the Chinese market to series production readiness," explains Wolfgang Ketter. All production lines are also procured locally. paragon Kunshan currently employs 70 people and now supplies 30 different customers in China. "Our approach "Local-for-Local" has proven itself; our plant in China works almost self-sufficiently for the local market, from which we expect a lot more in the future," says Klaus Dieter Frers, founder and Managing Director of paragon GmbH & Co. KGaA. Numerous guests accepted the invitation to the opening. They were given a tour of the facilities at paragon Kunshan. Culinary delights from Germany and German pop songs provided a contrasting backdrop to the ceremony. paragon sees the new, modern plant in Kunshan as a flagship plant that will serve as a model for future paragon production facilities worldwide. The corresponding construction plans in Landsberg am Lech, Bavaria, are already well advanced. In the medium term, the management assumes that the independent sales office in Detroit (USA), which has existed since spring of this year, will be followed by the construction of its own plant. About paragon GmbH & Co. KGaA paragon GmbH & Co. KGaA (ISIN DE0005558696), which is listed on the regulated market (Prime Standard) of Deutsche Börse AG in Frankfurt am Main, develops, produces and sells pioneering solutions in the fields of automotive electronics, body kinematics and electromobility. The portfolio of the market-leading direct supplier to the automotive industry includes innovative air quality management, modern display systems and high-end acoustic systems in the Electronics segment. In the Mechanics segment, paragon develops and produces active mobile aerodynamic systems. In the rapidly growing automotive market for battery systems, paragon's Power division supplies battery management systems and traction batteries. In addition to the company headquarters in Delbrück (North Rhine-Westphalia), paragon GmbH & Co. KGaA and its subsidiaries have locations in Suhl (Thuringia), Landsberg am Lech and Nuremberg (Bavaria), St. Georgen (Baden-Württemberg), Limbach (Saarland) as well as in Kunshan (China), Detroit (USA), Bengaluru (India) and Oroslavje (Croatia). You can find more information about paragon at www.paragon.ag. Contact Capital Market & Press paragon GmbH & Co. KGaA Dr. Martin Esser Bösendamm 11 D-33129 Delbrück Phone: +49 (0) 52 50 - 97 62-200 Fax: +49 (0) 52 50 - 97 62-102 E-Mail:investor@paragon.ag 29.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| Language: | English |
| Company: | paragon GmbH & Co. KGaA |
| Bösendamm 11 | |
| 33129 Delbrück | |
| Germany | |
| Phone: | +49 (0)5250 9762 - 0 |
| Fax: | +49 (0)5250 9762 - 102 |
| E-mail: | investor@paragon.ag |
| Internet: | www.paragon.ag |
| ISIN: | DE0005558696, DE000A2GSB86, |
| WKN: | 555869, A2GSB8, |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1955527 |
| End of News | EQS News Service |
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