TORONTO, ONTARIO -- (Marketwired) -- 02/16/16 -- Firan Technology Group Corporation ("FTG") (TSX: FTG), a leader in aerospace and defense electronics, announced today that it has renewed two Long-Term Agreements with a prominent US based Aerospace, Space and Defense Contractor for its Circuits Toronto and Chatsworth facilities. The agreements are for the supply of a variety of high technology Printed Circuit Boards used on major airframe platforms across Business, Regional, Air Transport, Space and Defense applications. The products FTG will support range from integrated avionics and engines to space systems.
Under the terms of the agreement, estimated at over $10 Million USD annually, FTG will manufacture and supply a full range of Printed Circuit Board products for several locations around the world.
Peter Dimopoulos, Vice President Business Development, FTG Corporation, commented, "FTG has been successful in increasing the scope of our new Long-Term Agreements. We value our position as a premier growth supplier and continue to focus on their needs and expectations for key metrics such as delivery, quality, reliability, value engineering and cost control. We look forward to supporting their business and help ensure their continued success in the market."
ABOUT FIRAN TECHNOLOGY GROUP CORPORATION
FTG is an aerospace and defense electronics product and subsystem supplier to customers around the globe. FTG has two operating units:
FTG Circuits is a manufacturer of high technology, high reliability printed circuit boards. Our customers are leaders in the aviation, defense, and high technology industries. FTG Circuits has operations in Toronto, Ontario, Chatsworth, California and a joint venture in Tianjin, China.
FTG Aerospace manufactures illuminated cockpit panels, keyboards and sub-assemblies for original equipment manufacturers of aerospace and defense equipment. FTG Aerospace has operations in Toronto, Ontario, Chatsworth, California and Tianjin, China.
The Corporation's shares are traded on the Toronto Stock Exchange under the symbol FTG.
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements. These forward-looking statements are related to, but not limited to, FTG's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains words such as "anticipate", "believe", "expect", "plan" or similar words suggesting future outcomes. Such statements are based on the current expectations of management of the Corporation and inherently involve numerous risks and uncertainties, known and unknown, including economic factors and the Corporation's industry, generally. The preceding list is not exhaustive of all possible factors. Such forward-looking statements are not guarantees of future performance and actual events and results could differ materially from those expressed or implied by forward-looking statements made by the Corporation. The reader is cautioned to consider these and other factors carefully when making decisions with respect to the Corporation and not place undue reliance on forward-looking statements. Other than as may be required by law, FTG disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.
Additional information can be found at the Corporation's website www.ftgcorp.com
Contacts:
Firan Technology Group Corporation
Bradley C. Bourne
President and CEO
(416) 299-4000 x314
bradbourne@ftgcorp.com
Firan Technology Group Corporation
Joseph R. Ricci
Vice President and CFO
(416) 299-4000 x309
joericci@ftgcorp.com
