Toronto, Canada – January 31, 2022 – Baylin Technologies Inc. (TSX BYL) (the “Company”) is pleased to update its investors on developments at its Advantech Wireless Technologies (“Advantech”) subsidiary.
Advantech was recently awarded a multi-year contract to supply SSPA (“Solid State Power Amplifier”) systems to a US-based sports video broadcast company. The systems will be integrated into a fleet of hundreds of mobile satellite communications trucks for the purpose of broadcasting live sporting events. The retrofit will begin in Q1 2022.
Additionally, Advantech received an award from a major Latin American customer to supply SSPAs for a military RADAR system. In this instance, the amplifiers will enable the simultaneous tasks of surveillance, classification, location, and graphic visualization of aerial targets. This award is a multi-year supply agreement.
Also, in the SSPA category, Advantech received a substantial order from a major telecommunications operator for more than 100 SSPA systems and more than 100 frequency converters for a network that provides communications links between schools, post offices and other state government facilities. Many of the sites are located in extremely rural locations in the United States.
“The perseverance and excellence of our Advantech team is commendable”, said Leighton Carroll, Chief Executive Officer of Baylin. “Our teams in Montreal and the United States have been working throughout the pandemic on innovative products that clearly are needed today and in the future. The quality of work by our engineering and production teams provides the impetus for the sales organization to win these new multi-year project placements with key customers.”
“I am very pleased with the work our teams have accomplished,” said John Restivo, President of Advantech. “The innovations we have developed allow us to compete very effectively at a positive time for the satellite communications industry.”
Baylin is a leading diversified global technology company. The Company focuses on research, design, development, manufacturing, and sales of passive and active radio-frequency products and services. We strive to meet our customers’ needs and anticipate the direction of the market.
This press release includes forward-looking information and forward-looking statements (together, “forward-looking statements”) within the meaning of applicable securities laws. They are not statements of historical fact. Rather, they are disclosure regarding conditions, developments, events or financial performance that we expect or anticipate may or will occur in the future, including, among other things, information or statements concerning our objectives and strategies to achieve those objectives, statements with respect to management’s beliefs, estimates, intentions and plans, and statements concerning anticipated future circumstances, events, expectations, operations, performance or results. Forward-looking statements can be identified generally by the
use of forward-looking terminology, such as “anticipate”, “believe”, “could” “should”, “would”, “estimate”, “expect”, “forecast”, “indicate”, “intend”, “likely, “may”, “plan”, “potential”, “project”, “outlook”, “seek”, “target”, “trend” or “will”, or the negative or other variations of these words or other comparable words or phrases, and are intended to identify forward-looking statements, although not all forward-looking statements contain these words.
The forward-looking statements in this press release include statements regarding the award of supply contracts, the term of those contracts and the benefits and use of the products being supplied. Forward-looking statements are based on certain assumptions and estimates made by us in light of the experience and perception of historical trends, current conditions, expected future developments, including projected growth and sales in passive and active radio frequency and terrestrial microwave products and services, and other factors we believe are appropriate and reasonable in the circumstances, but there can be no assurance that such assumptions and estimates will prove to be correct.
Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward- looking statements, including the risk factors discussed in the Company’s most recent Annual Information Form, which is available on the Company’s profile on SEDAR at www.sedar.com. All the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors in this press release. There can be no assurance that the actual results or developments will be realized or, even if substantially realized, will have the expected consequences to, or effects on, the Company. Unless required by applicable securities law, the Company does not intend and does not assume any obligation to update these forward-looking statements.