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TORONTO, Dec. 31, 2024 /CNW/ - Baylin Technologies Inc. (the "Company") is pleased to announce that it has completed the sale of its Mobile and Network business unit, comprised of Galtronics Korea Co., Ltd. ("GTK") and Galtronics Vietnam Co., Ltd. ("GTV"), to a strategic acquiror from Korea. The Company has now completed the sale of GTV, following receipt of Vietnamese regulatory approvals. The sale of GTK was completed in July 2024. The Mobile and Network business unit designs and manufactures antennas for use in wireless communications products, principally for use in mobile phones.
Leighton Carroll, Chief Executive Officer of the Company, commented: The sale will allow the Company to focus on its remaining core businesses – Embedded Antenna and Wireless Infrastructure under the Galtronics name and Satellite Communications under the Advantech name.
The Company also announces the appointment of Clifford Gary as its new Chief Financial Officer. Mr. Gary replaces Dan Nohdomi, the former Chief Financial Officer, who is leaving the Company to pursue other opportunities. Mr. Gary is currently the Vice President Finance of the Company. His appointment is effective January 1, 2025.
"It has been a great pleasure working with Dan. He has been a key member of the management team and will be missed. Cliff has been in his current position for several years, and his promotion reflects the confidence the board of directors has in his ability to take on this new and more challenging role", said Mr. Carroll.
About Baylin
Baylin is a leading diversified global technology company. The Company focuses on the research, design, development, manufacture and sale of passive and active radio-frequency products and satellite communications products and the provision of supporting services. We strive to meet our customers' needs and anticipate the direction of the market.
Forward Looking Statements
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