IVRY-SUR-SEINE, France--(BUSINESS WIRE)--Regulatory News:
BALYO (FR0013258399, Ticker: BALYO, eligible for PEA-PME savings schemes), a technological leader in the design and development of innovative robotic solutions, announces order commitments from its industrial partners for 2020.
Overall, the cumulative order commitments of BALYO's two industrial partners, Linde and Hyster-Yale, will represent a total of 394 robots for the financial year 2020.
As with industrial contracts of this kind, the execution of orders is subject to various conditions linked to the respect of operational and technological criteria on both sides.
Fabien Bardinet, Chairman and CEO of BALYO, stated: « This is the first time in our history that our partners are committed to a minimum number of orders. After a very disappointing year 2019, it strongly underlines their confidence which is the result of the important work undertaken by the BALYO teams in the service of its partners to restore growth in 2020 ».
Christophe Lautray, Chief Sales Officer of Linde Material Handling and member of BALYO Board of Directors, comments: « With the minimum sales commitment, LMH underlines the trust it has in its technology partners and the potential of the joint technical solution ».
Pascal Rialland, Deputy CEO of BALYO concludes: « Our partners' order commitments considerably strengthen our organic growth pipeline, enabling us to enter 2020 with confidence. This confirms the interest of our solutions, whose speed of deployment has been increased in recent months. We would like to thank our historical industrial partners for their trust and remain focused on continuing our development in 2020 as part of our new commercial strategy, which will be detailed at the beginning of the year ».
Balyo transforms standard forklift trucks into standalone intelligent robots thanks to its breakthrough proprietary Driven by Balyo™ technology. The geoguidance navigation system developed by Balyo allows vehicles equipped with the system to locate their position and navigate autonomously inside buildings. Within the automated handling vehicle market, Balyo has entered into two strategic agreements with Kion Group AG (Linde Material Handling's parent company) and Hyster-Yale Group, two major operators in the material handling sector. Balyo is present in three major geographic regions (Americas, Europe and Asia-Pacific). Its sales revenue reached €23.3 million in 2018. For more information, please visit our website at www.balyo.com.