26-09-2012 | Press releases

paragon reaches a solution for Artega in Delbrück

The future of Artega Automobil GmbH & Co. KG is settled. On October 1, 2012, paragon AG takes over all of Artega’s assets, but will not resume its sports car production, which was shut down by the insolvency administrator on September 30, 2012. “We need Artega’s staff and especially the space to continue to develop our new fields of business here at our Delbrück site. I’m happy that we’ve been given this opportunity by the insolvency administrator,” stressed Klaus Dieter Frers, Chairman of paragon’s Managing Board.

When it was announced that the management of Artega Automobil GmbH & Co. KG had filed for bankruptcy on June 29, 2012, Frers expressed his interest. “I analyzed the company’s position and quickly came to the conclusion that continuing the sports car production did not make any sense for us. Motor vehicle construction simply does not fit with paragon’s portfolio”, Frers explained. However, paragon can make perfect use of the newly acquired resources to continue to develop itself as a direct supplier to the automotive industry. “We have numerous projects in our new Electromobility and Body-Kinematics divisions, for which we urgently require new expertise and additional space. Therefore, the possibility of taking over Artega’s assets came at exactly the right moment for us”, said Frers.The CEO expressly thanked insolvency administrator Sandra Bitter, who sought the best possible solution for Artega’s employees. Accurately timed to coincide with its 25th anniversary in 2013, paragon will distinctly consolidate and enhance its headquarters in Delbrück as a result of the takeover. paragon will introduce its plans in detail during a press conference on October 1, 2012.