Connection timed out while downloading

I have to downlaod an excel file from a specoified URL and then store it to my machine. I have the following method that does that. However, I get a Connection Timed out error when running this (for test purpose the file is kept on mycgiserver.com). Is something wrong in the code?

public class HTTPDownloader{
    
    public static boolean downloadFile (String strUrl, String fileName) {
        objLogger.info("HTTP URL to download: " + strUrl);
        boolean retVal = true;
        URL url = null;
        URLConnection connection = null;
        BufferedInputStream in = null;
        InputStream stream  = null;
        FileOutputStream file  = null;
        BufferedOutputStream out = null;
        try{
            url = new URL(strUrl);
            connection = url.openConnection();
            stream = connection.getInputStream();
            in = new BufferedInputStream(stream);
            file = new FileOutputStream("bin" + File.separatorChar + fileName);
            out = new BufferedOutputStream(file);
            int i;
            while ((i = in.read()) != -1) {
                out.write(i);
            }
            out.flush();
        }
        catch(MalformedURLException mue){
            objLogger.fatal("Malformed URL: " + mue);
            retVal = false;
        }
        catch(FileNotFoundException fne){
            objLogger.fatal("FileNotFoundException: " + fne);
            retVal = false;
        }
        catch(IOException ioe){
            objLogger.fatal("IOException: " + ioe);
            retVal = false;
        }
        catch(Exception e){
            objLogger.fatal("General Error: " + e);
            retVal = false;
        }
        finally{
            try{
                url = null;
                stream.close();
                in.close();
                out.close();
            }
            catch(Exception ec){
                objLogger.fatal("Error while cleaning up: " + ec);
            }
        }
        return retVal;
    }