TORONTO, March 26, 2020 /CNW/ - Baylin Technologies Inc. (TSX: BYL) (the "Company" or "Baylin"), a leading, diversified, global wireless technology company focused on research, design, development, manufacturing and sales of passive and active radio frequency products and services, today provided an update on its status as an "essential business" and its COVID-19 safety measures.
The Company confirms that it remains open for business despite recent announcements of temporary government shutdowns.
The Company's two Quebec-based manufacturing subsidiaries, Advantech Wireless Technologies Inc. (Advantech) and Alga Microwave Inc. (Alga), are considered "essential businesses" under the interim exceptional measures announced by the Quebec government. The measures have been taken to fight the spread of COVID-19. Advantech and Alga supply products to leading Canadian and American global communications companies, government agencies, military companies and various NATO countries.
The products made in the Quebec factory are essential to critical infrastructure viability in the defence, media and telecommunications industries, including the CBC, a North American Tier 1 network carrier, a national cable news network and early warning radar systems. Additionally, Advantech and Alga supply products to leading global providers of information and communication technology and the maintenance and operations of strategic global infrastructure.
Baylin's US subsidiary, Galtronics USA, Inc., headquartered in Tempe, Arizona, has been designated as the provider of an "essential critical service" by a leading Tier 1 network carrier and as an "essential manufacturing supplier of critical components" for the US Department of Defense by a leading global aerospace and defence technology company. Galtronics supplies antennas that support a public safety network in the US. This critical network ensures that first responders, public messaging, 911 communications and other critical communications remain functional.
The Company's operations in China continue to improve. Substantially all employees have now returned to work and operations have essentially returned to full capacity.
COVID-19 Safety Measures
In order to supply these critical products, the Company has taken a number of proactive and precautionary measures to protect the health and safety of our workers, customers and communities, including work from home whenever possible, temporary bans on travel, and self-isolation when required. We have implemented additional measures in our facilities to protect workers, drawing on the successful experiences gained from our operations in China, South Korea and Vietnam. These additional measures include intensified cleaning and hygienic practices, separating employees within the facilities, taking employee temperatures and making masks available to them. As the Company continues to monitor and assess the global impact of COVID-19 on the business, it will regularly adapt and evolve these measures as circumstances require.
This press release includes forward-looking information and forward-looking statements ("forward-looking statements") within the meaning of applicable securities laws. They are not statements of historical fact. Rather, it is disclosure regarding events, conditions, developments 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, plans, estimates and intentions and statements concerning anticipated future events, circumstances, expectations, results, operations or performance. 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 is intended to identify forward-looking statements, although not all forward-looking statements contains these words.
The forward-looking statements in this press release include statements regarding the effect on the Company and its subsidiaries of being considered essential businesses and of the COVID-19 outbreak. Forward-looking information and 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 in the antenna and related industries, 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 Annual Information Form dated March 11, 2020 which is available on the Company's profile 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.
Baylin Technologies Inc. is a leading, diversified, global wireless technology company. Baylin focuses on research, design, development, manufacturing and sales of passive and active radio frequency products and services. Baylin aspires to meet its customers' needs and anticipate the direction of the market. For further information, please visit www.baylintech.com or contact Investor Relations: [email protected].
SOURCE Baylin Technologies Inc.
For further information: Investor Relations: Kelly Myles, Marketing and Communications Director, Baylin Technologies Inc., [email protected]
Baylin (TSX: BYL) is a diversified leading global wireless technology management company. Baylin focuses on research, design, development, manufacturing and sales of passive and active RF products and services. We aspire to meet our customers' needs and anticipate the...