Originally Posted by JohnDThompson

The original Paramounts were made in Chicago, first by Emil Wastyn and later in a special section of Schwinn's Chicago factory. By the mid 80s, Paramount production was moved to a new facility in Waterford Wisconsin (not Waterloo Wisconsin; that's Trek's factory). When Schwinn was sold, the Waterford facility was spun off into a new entity headed by Richard Schwinn (Waterford Precision Cycles).

"No Hands" is an engaging history of the Schwinn Bicycle Company.