TORONTO, CANADA – April 5, 2019 – Baylin Technologies Inc. (TSX: BYL) (the “Company” or “Baylin”), today announced the official grand opening of its Advantech Wireless Technologies (“Advantech”) Centre of Excellence in Kirkland, Quebec.
Representatives of Baylin’s Board of Directors, management team, shareholders, analysts and friends of the company converged on the Kirkland property April 2nd to cut the ribbon, officially opening the 66,000 sq. ft. facility. Numerous representatives from the Quebec government, Canadian Space Agency and post-secondary institutions were in attendance to celebrate with the Advantech work force.
In January 2018, Baylin purchased Advantech Wireless, a global provider of satellite communications solutions. In July 2018, Baylin purchased Advantech’s Kirkland based competitor, Alga Microwave. Since July the Baylin team has worked diligently with the two Quebec entities to consolidate the best of both operations into a new design and manufacturing Centre of Excellence located in Kirkland, Quebec.
Baylin has made a multi-million dollar investment in the R&D and manufacturing facility to ensure Advantech’s competitive edge as a leading global satellite communications specialist. The operation employs a workforce of over 200 including engineers, technicians, manufacturing specialists and support staff. The new facility is equipped with enhanced quality systems and utilizes advanced manufacturing processes. The building design optimizes operational efficiencies, ensures highest quality outputs and significantly reduces delivery lead-times.
Randy Dewey, Baylin’s President and CEO, was on hand to explain, “Advantech’s products and technologies are designed and manufactured in Quebec however 98% of its products are exported to international markets. Advantech’s solutions ensure that people around the world stay connected and informed using advanced terrestrial and satellite communication technologies. Advantech’s bold and original thinking produces innovative products designed to overcome daunting challenges in remote locations.”
Baylin Technologies Inc. (TSX: BYL) is a diversified leading global wireless technology management company. Baylin focuses on research, design, development, manufacturing and sales of passive and active radio-frequency products and services. Baylin aspires to exceed its customers’ needs and anticipate the direction of the market. For further information, please visit www.baylintech.com.
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Certain statements contained in this press release constitute “forward-looking statements” that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, objectives or achievements of the Company, or industry results, to be materially different from any future results, performance, objectives or achievements expressed or implied by such forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects,” “anticipates,” “believes,” “intends,” “estimates,”, “predicts,” “potential,” “targeted,” “plans,” “possible” and similar expressions, or statements that events, conditions or results “will,” “may,” “could” or “should” occur or be achieved. The forward-looking statements in this press release include, but are not limited to, statements regarding the Company’s expected product pipeline, plans to expand the Company’s business into new markets, the Company’s ability to achieve organizational efficiencies, and other statements regarding the Company’s plans, objectives and expectations. These statements reflect the Company’s current views regarding future events and operating performance and are based on information currently available to the Company as of the date of this press release. These forward-looking statements involve a number of risks, uncertainties and assumptions and should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such performance or results will be achieved. Those assumptions and risks include, but are not limited to, the Company’s ability to successfully allocate capital as needed and to develop new products, as well as the fact that the Company’s results of operations and business outlook are subject to significant risk, volatility and uncertainty. Additional factors that could cause actual results, performance or achievements to differ materially include, but are not limited to the risk factors discussed in the Company’s Annual Information Form dated March 13, 2019 which is available on the Company’s profile at www.sedar.com. All of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they 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.