TORONTO, Jan. 14, 2019 /CNW/ - Baylin Technologies Inc. ("Baylin") (TSX: BYL) today announced that its Kirkland, Quebec wholly owned subsidiary, Alga Microwave Inc. ("Alga"), has signed an agreement in principal to design and manufacture key components for a Tier 1 global telecom equipment producer headquartered in Sweden. The supply agreement, which commences immediately and extends through the end of 2020, represents a multi-million dollar program whereby Alga will furnish critical passive components used in point-to-point and point-to-multipoint telecom equipment, along with engineering design and support services.
"This agreement extends our long-standing relationship with this important customer and strengthens Alga's position as a global provider of leading-edge equipment", explained Randy Dewey, Baylin's President and CEO. "Alga's strategy of providing high value technical solutions to the industry continues to be effective. We are introducing new technologies to our customer base, opening new markets and establishing ourselves as a global leader for large scale telecommunications initiatives."
Alga is a leading designer and provider of radio frequency (RF) components and systems for the telecommunications and satellite communications industries, as well as a variety of other sectors. Alga is one of the few companies in the world offering products in the 2.0 to 31.0 GHz radio frequency and the 5 to 16,000 watt power spectrum.
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 direction of the market.
Forward-looking Information Cautionary Statement
This news release contains statements that may constitute "forward-looking statements" or "forward looking information" under applicable securities laws, including statements relating to, the customers and potential sales of products by Baylin and assumptions regarding the future performance of Baylin. Certain statements made in this news release that are not historical facts are also forward-looking statements. These forward-looking statements reflect management's current internal projections, expectations or beliefs and are based on information currently available to Baylin. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "predict", "potential", "continue" or the negative of these terms or other comparable terminology. A number of factors could cause actual events or results to differ materially from those discussed in the forward-looking statements. Risks and uncertainties that could cause or contribute to such differences include, but are not limited to those described under "Risk Factors" in Baylin's most recent annual information form, which is available on SEDAR. Baylin has made a number of assumptions in making forward-looking statements in this news release. Although management believes that the forward-looking statements contained herein are based on reasonable assumptions, an investor cannot be assured that actual results will be consistent with such statements. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. Baylin cannot provide any assurance that forward-looking statements will materialize. The forward-looking statements included in this news release are made as of the date of this news release and Baylin undertakes no obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise except as may be required by applicable securities laws.
SOURCE Baylin Technologies Inc.
For further information: Investor Relations: Kelly Myles, Marketing and Communications Director, Baylin Technologies Inc., [email protected]