Paragon takes over Artega’s assets
Delbrück, September 26, 2012: On October 1, 2012, paragon AG takes over all of the assets of the insolvent Artega Automobil GmbH & Co. KG. paragon will not resume Artega’s sports car production, Artega GT, which was shut down by the insolvency administrator on September 30, 2012.
Paragon intends to use its newly acquired resources in staff and space to continue to develop its new Electromobility and Body-Kinematics divisions.
Accurately timed to coincide with its 25th anniversary in 2013, paragon will enhance its headquarters in Delbrück as a result of the takeover. The company will introduce its plans in detail during a press conference on October 1, 2012.
New technology center
paragon AG has cause to celebrate ahead of its 25th anniversary in 2013. This year, the stock-exchange-listed tier-1 supplier is setting up a technology center in the premises of the former Artega Automobil GmbH & Co. KG in Delbrück. "We are therefore strengthening operations at our headquarters in the long term and ensuring job security for the future," said Klaus Dieter Frers, Chairman of the Managing Board.
As a result of acquiring all the assets of Artega Automobil GmbH & Co. KG on October 1, 2012, paragon gained additional staff and, above all, extra space. This will enable the company to drive its further growth. Besides doubling the development team to 40 employees, paragon’s plans for the Delbrück site include expanding prototype construction, the pilot workshops, and the test rigs as well as setting up a bespoke application service for customers.
In addition, paragon will soon be manufacturing products on a larger scale again in Delbrück. Overall, 26 former Artega employees are being taken on in development, design, assembly, and engineering - including manufacturing for the new divisions Electromobility (launched in 2011) and Kinematics (launched in January 2012).
Paragon’s new divisions have notched up their first successes faster than expected. In the Electromobility division, battery packs manufactured inhouse and end-to-end solutions with an application service are generating strong demand. The Kinematics division has secured a high-profile order and, from 2013, will manufacture the rear-spoiler drive mechanism for a sports supercar in Delbrück.
Paragon will draw up a detailed usage plan and renovate its new premises by the end of 2012.
This includes turning the existing buildings into a production hall so that prototype construction and the conversion of customers’ vehicles can be significantly expanded.