Baylin Technologies Announces $8.2 Million (CAD) Award for its Advantech Wireless Technologies Subsidiary from a Major US Defence Contractor
TORONTO, May 29, 2024 /CNW/ - Baylin Technologies Inc. (TSX: BYL) (the "Company") is pleased to announce that its Advantech Wireless Technologies Inc. ("Advantech") subsidiary has received an $8.2M order for its ultra-high-power Summit II Solid State Power Amplifier (SSPA) systems. This order was placed by a major US defence contractor for use in a NATO government specific application.
John Restivo, President of Advantech, states "This order represents that latest phase of a very significant program, which in its entirety requires many of these systems to be deployed over several years. Our Summit, Summit II and Summit III amplifier systems, with their soft-fail redundant architectures based on our proprietary CANBus operating system, have helped position Advantech as the 'go-to' source for very high-power SSPA systems."
Leighton Carroll, Baylin's CEO, said "Our team at Advantech has done a tremendous job of creating truly innovative solutions for the high-power satellite market. While this includes defence applications, it also includes broadcast and space communication applications as well. Multi-year, multiple phase wins like this demonstrate that Advantech is uniquely positioned for further opportunity."
Baylin is a leading diversified global wireless technology company. Baylin focuses on research, design, development, manufacturing and sales of passive and active radio-frequency products, satellite communications products, and supporting services. Baylin aspires to exceed its customers' needs and anticipate the direction of the market. For further information, please visit www.baylintech.com.
This press release includes forward-looking information and forward-looking statements (together, "forward-looking statements") within the meaning of applicable securities laws. Forward-looking statements 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", "outlook", "plan", "potential", "project", "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 expected term of the government program and the multi-phase element of the deliveries of SSPAs. 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.sedarplus.ca. All the forward-looking statements 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.
SOURCE Baylin Technologies Inc.
Investor Relations: Kelly Myles, Marketing and Communications Director, Baylin Technologies Inc., [email protected]
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