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 for material handling trucks, today announces the renewal of its cooperation agreement with the KION Group, its historical partner, until May, 8th 2027.
Established in May 2017, the cooperation between BALYO and KION has been renewed by mutual agreement for a period of four years, starting from May 2023, on the same terms as initially.
At the end of last year, BALYO and Linde Material Handling, a subsidiary of the KION Group, announced the signing of a contract of orders for 2022 for the third year in a row. The four-year extension of the contract governing the partnership between the two parties confirms Linde Material Handling's confidence in BALYO's technology solutions.
Pascal Rialland, CEO of BALYO, said: “We are delighted that the KION Group has decided to renew, as planned in the contract signed in 2017, the partnership agreement until May 2027. This long-term commitment illustrates the added value of BALYO solutions, especially for high bay applications, as well as the technological and operational progress made in recent years. This renewal also reflects the trust between the two companies' teams and allows both companies to pursue and initiate the operational projects essential to accelerate the conversion of the manual handling market to autonomy.”
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Next financial release: sales for the first half of 2022 on July 21, 2022
About BALYO
Humans around the World deserve enriching and creative jobs. At BALYO, we believe that pallet movements in DC and manufacturing sites should be left to fully autonomous robots. To execute this ambition, BALYO transforms standard forklifts into intelligent robots thanks to its breakthrough Driven by Balyo™ technology. Our leading geo guidance navigation system enables robots to locate their position and navigate autonomously inside buildings - without the need for any additional infrastructure. To accelerate the material handling market conversion to autonomy, BALYO has entered into two global partnerships with KION (Fenwick-Linde's parent company) and Hyster-Yale Group. A full range of globally available robots has been developed for virtually all traditional warehousing applications; Tractor, Pallet, Stackers, Reach and VNA-robots. BALYO and its subsidiaries in Boston and Singapore serve clients in the Americas, Europe and Asia-Pacific. The company has been listed on EURONEXT since 2017 and its sales revenue reached €21.8 million in 2021. For more information, visit www.balyo.com.