04-05-2012 | Press releases
Major Order from BMW
paragon AG has landed still another major order. The publicly listed direct supplier to the automotive industry has received a 24 million euro order from BMW for AQS® air quality sensors. Commenting on the deal, paragon CEO Klaus Dieter Frers said, “This order strengthens our position as a market leader in interior air quality and underscores our good relationship with BMW.”
paragon has been making a name for itself with innovative products for automotive well-being, comfort, communication and efficiency since the mid 90s. The company’s breakthrough product is its air-quality sensors that prevent noxious gases from entering the passenger compartment.
paragon’s sensors will do duty in a broad array of BMW models over the next years. Among the models will be the BMW X series and the compact-class BMW 1, Mini and the new i3 electric car. Production for the new order will start in 2013. Once the ramp-up is completed, revenues will amount to more than three million euros yearly. Negotiations are currently underway to integrate the sensor into additional BMW models.
Remarking on their latest success, CEO Frers says, “Our partnership with BMW has been very satisfactory over the years. The current order attests to that relationship; it lends our cooperation a whole new dimension.” The annual shareholders’ meeting of paragon AG will take place on Wednesday, May 9 at 10:00 a.m. in the Delbrück Stadthalle.