Paragon Technologies appoints new CEO

Paragon Technologies’s wholly owned subsidiary, SI Systems, Inc., a leading supplier of “smart” materials handling systems and “software- driven” warehouse and distribution center solutions, today announced the appointment of Larry Strayhorn as chief executive officer, replacing Acting CEO, William “Bill” J. Casey, effective immediately.

Commenting on the announcement, chairman of the board, Sham Gad, said, “On behalf of the Board of Directors, we would first like to thank Bill Casey for his 44 years of dedicated and loyal service to the company. SI Systems is at a very important transition point in its history as the material handling industry becomes more and more critical to satisfying the growing demand for enhanced productivity solutions from businesses today. No one is more qualified than Larry to lead SI Systems on this critical and exciting journey.”

“Larry’s background and accomplishments during his 34 years serving the material handling industry simply jump off the page,” said Gad. “Larry is widely regarded by his peers in the industry as one of the most respected and qualified materials handling executives today as is evidenced by his current role as chair of Material Handling Industry of America (MHIA).

Furthermore, Larry brings a level of integrity that is often remiss in today’s corporate world. Larry’s ability to build a material handling company has been well documented in the industry.”

Gad further added, “I continue to remain fully committed to running this Company for the benefit of our shareholders, I being the largest with a 28% economic and financial interest in Paragon. As I stated in my March 30, 2012 letter to shareholders, my focus remains two-fold: first, we will work diligently and prudently in improving the operations of SI Systems and second, we will continue to pursue a path that seeks to both maximize and preserve the Company’s nearly $5 million cash balance. Larry is just as committed to this focus, and the Board is thrilled to have him join our team.”

Strayhorn, age 52, has served the material handling industry for over 34 years. He has held multiple management positions at Eaton-Kenway,Mannesmann Demag and Rapistan Demag, all with a focus on automation. He was one of the principal owners of Diamond Phoenix Corp. before selling the company to Systems Logistics, and most recently served as the President of TGW Systems. Strayhorn has also served the Material Handling Industry (MHI) trade organization for a number of years in various capacities, and he currently is the Executive Chairman of Material Handling Industry of America, the industry leading organization. He also serves as a board member of the Material Handling Education Foundation.

Paragon Technologies, through its wholly owned subsidiary, SI Systems, is a leader in integrating material handling systems and creating automated solutions for material flow applications. SI Systems’ branded technologies and material handling solutions address unit assembly in manufacturing operations and order fulfillment applications. One of the top material handling systems suppliers worldwide, SI Systems’ leading clients have included the United States Postal Service, BMG, Peterbilt, Honda, and Maybelline.