paragon GmbH & Co. KGaA — M&A Activity 2003

Nov 4, 2003

News Details

Ad-hoc | 4 November 2003 08:50

paragon AG english

paragon AG Acquires Air Quality Sensor Business from Bosch Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– paragon AG Acquires Air Quality Sensor Business from Bosch Delbrück/Stuttgart, November 4, 2003 paragon AG today announced the acquisition of Robert Bosch GmbHs air quality sensor business. Effective January 2, 2004, paragon will be acquiring the chemical air quality sensors segment of Boschs Automotive Electronics division. According to the CEO, paragon as a result of the acquisition will be equipping nearly all current DaimlerChrysler models. The acquisition itself was arranged as part of an asset deal; both parties have agreed not to disclose the purchase price. According to Robert Bosch GmbH, the company decided in connection with its efforts to concentrate on its core business that it would entrust the air quality sensor activities to a competent successor. In addition, the company says it was looking for a partner that could reliably continue the complex production and supply for DaimlerChrysler and continue to satisfy DaimlerChryslers high quality expectations in the future as well. As a consequence of the acquisition, paragon will secure patents for the production of sensor elements. According to the CEO, when combined with the companys existing market position in the air quality sector, the additional know-how represents a quantum leap. It will put paragon in a position to strategically supplement its existing range of system-related patents for processing signals. The company therefore plans to build a new sensor elements factory in Suhl including a clean room and silicon technology. paragon will also be gaining Boschs research findings on the recognition of smells. The CEO says that this technology will make paragon the worlds first company to offer a new generation of air quality sensors in the near future that is capable of recognizing smells like manure, tar, or garbage. As a result of the acquisition, says the CEO, paragons share in the world market for air quality sensors will increase to significantly more than 70% in the course of the year 2004. Since two new vehicle models will be equipped with paragon developments in the next two years, he is confident that the market share will continue to rise until year-end 2005. Investor Relations: Carsten Vogt/Phone: +49 5250 9762-14/Fax: +49 5250 9762- 61/Mail: carsten.vogt@paragon-online.de end of ad-hoc-announcement (c)DGAP 04.11.2003 ——————————————————————————– WKN: 555869; ISIN: DE0005558696; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover und Stuttgart 040850 Nov 03