paragon acquires speaker manufacturer LPG

With this acquisition, paragon is expanding its technology base for acoustics solutions and thus also its value chain in its Interior division. LPG has been a close partner of various automobile manufacturers, such as BMW, Volkswagen, Opel and Rolls Royce, for many years. The purchase price is EUR 3 million. "LPG holds a lot of growth potential for us because it will allow us to strengthen our positioning in another key area of the automobile industry as a system provider," says Klaus Dieter Frers, Chairman of the Board of paragon GmbH, in a press release. "The acquisition also represents further development of our vertical range of manufacturing in electromobility. Given the low noise produced by electric vehicles, LPG's external sound speakers address an important safety aspect in the mobility of tomorrow. We see enormous potential here." LPG currently employs 66 people in Neu-Ulm, where its speaker systems are developed and produced. The product portfolio mainly includes tweeters and cone loudspeakers that are used especially in the automotive industry. In addition, LPG develops and manufactures external sound speakers that make it possible for pedestrians and bicyclists to hear electric vehicles. Going forward, LPG will operate under the name paragon electroacoustic GmbH.