TORONTO, Sept. 18, 2019 /CNW/ - Baylin Technologies (TSX:
BYL) is pleased to announce that its wholly owned subsidiary,
Galtronics Vietnam Co. Ltd. ("Galtronics"), has been selected as
one of a few vendors to supply a tier one network equipment
provider with 3.5GHz 5G MMU (Massive MIMO Unit) antenna modules, on
a worldwide basis.
Galtronics has commenced construction of production lines in its
new facility in Vietnam, with
scheduled completion in Q1, 2020. Volume production of these
antenna modules is expected to begin in Q2, 2020. There will be
additional 5G products produced in this facility commencing at a
later date. Galtronics will invest approximately C$9.0M to design and equip this facility which
will have sufficient capacity to address its customers' needs for
the next 2-3 years, with the ability to double production if
required.
Recent reports from ResearchAndMarkets suggest the massive MIMO
sector is poised for explosive growth, with industry revenue
expected to grow from US$1.3B in 2018
to US$21.0B by 2026, representing a
41.6% CAGR. "This project represents the single largest new
business opportunity Galtronics has ever invested in and we expect
it to generate positive ROI within the first 2 years of production.
This facility will be dedicated to 5G products and this win
launches us into an exciting wave of the future.", said
Randy Dewey, Baylin's President and
CEO.
About Baylin
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 exceed our customers' needs and
anticipate the direction of the market.
FORWARD-LOOKING STATEMENTS
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 statements
regarding the Company's expected completion date of its new
facility in Vietnam, start date of
volume production of antenna modules, production capacity of the
facility, and returns generated from products manufactured in the
facility, 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.
SOURCE Baylin Technologies Inc.