Paragon (company)

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paragon GmbH & Co. KGaA

logo
legal form GmbH & Co. KGaA
ISIN DE0005558696
founding 1988
Seat Delbrück , GermanyGermanyGermany 
management Klaus Dieter Frers, CEO
Number of employees 1,032 (2018)
sales 187 million euros (2018)
Branch Automotive supplier
Website www.paragon.ag
As of December 31, 2018

The Paragon GmbH & Co. KGaA (proper spelling: paragon ) is founded in 1988 as an electronics manufacturer company in the field of automotive electronics based in Delbrück ( East Westphalia ). The company supplies the automotive industry with devices and sensors from acoustics , cockpit, electric mobility and body - kinematics .

In addition to the company's headquarters in Delbrück, Paragon has locations in Suhl (Thuringia), Landsberg am Lech and Neu-Ulm (Bavaria), Markgröningen and St. Georgen (Baden-Württemberg), Limbach (Saarland), Aachen (North Rhine-Westphalia) and in Kunshan (China) and Austin (Texas, USA). Paragon is listed in the Prime Standard of the German stock exchange.

Company history

Paragon was founded in 1988 as an electronics manufacturer, particularly for automotive electronics. A second location next to Delbrück was established after 1989 when the robotron plant in Zella-Mehlis (Thuringia) was taken over. The company went public in 2000 .

Paragon AG entered automobile production with the Artega GT sports car . The independent Artega GmbH & Co. KG was founded in 2006 to develop, manufacture and sell it . The daughter filed for bankruptcy in 2012 and was taken over again by the mother after a sale to an Asian investor failed.

In 2009 a liquidity crisis brought Paragon AG itself into bankruptcy. The procedure was carried out independently as a planned insolvency and completed in mid-2010. Three months later, the company was consolidated through the incorporation of a subsidiary.

Two more production sites were built in Delbrück.

In 2014, the former electromobility division was spun off as Voltabox . Voltabox AG is also listed today and is listed in the CDAX .

After "serious accounting errors" were found during the IPO of the subsidiary Voltabox in 2019, the German Audit Office for Accounting (DPR) also checked the parent company and discovered several accounting errors that Paragon had to publish on June 7, 2019.

In July 2020 it was announced that the Paragon production facility in Neu-Ulm , which was taken over in 2018 , will be closed at the end of June 30, 2021.

Sponsorship

Until June 2009, Paragon was the name sponsor of the Paragon-Arena (today Benteler-Arena ) in Paderborn, the venue of SC Paderborn 07 .

Subsidiaries

  • productronic GmbH, Delbrück, (100%)
  • SphereDesign GmbH, Bexbach , (100%)
  • KarTec GmbH (without business operations), Forchheim , (100%)
  • paragon Automotive Technology (Shanghai) Co. Ltd., Shanghai / China, (100%)
  • paragon Automotive Technology Co. Ltd., Kunshan / China, (100%)
  • Voltabox AG, Delbrück, (60%)
  • Voltabox of Texas Inc., Leander , USA , (100%)

Individual evidence

  1. ↑ a b Annual Report 2018. (pdf) In: paragon.ag. Retrieved October 5, 2019 .
  2. ↑ Paragon AG: Business Units (accessed May 7, 2019)
  3. ↑ Paragon AG: Locations (accessed on August 14, 2020)
  4. ^ Paragon AG in stock market indices. Retrieved July 21, 2014 .
  5. ↑ "History" on www.paragon.ag, accessed on May 10, 2015
  6. ↑ Timeline of the company's history at www.paragon.ag, accessed on May 10, 2015
  7. ↑ Manager Magazin: Paragon goes into plan bankruptcy , October 5, 2009
  8. ^ Thüringer Allgemeine: The redesign of the Paragon company is finished , September 1st, 2010
  9. ↑ Voltabox shares on a roller coaster ride after accounting errors. In: www.finance-magazin.de. May 7, 2019, accessed December 7, 2019 .
  10. ↑ Paragon presents list of accounting errors. In: www.finance-magazin.de. June 11, 2019, accessed December 7, 2019 .
  11. ↑ Paragon in Delbrück apparently wants to close the plant in Neu-Ulm Report of the Paderborn radio station Radio Hochstift on July 13, 2020, accessed on July 14, 2020
  12. ↑ a b c d e f g Annual Report 2017. Paragon AG, accessed on April 13, 2018 .

Coordinates: 51 ° 45 ′ 30.2 "  N , 8 ° 32 ′ 56.5"  E