TORONTO, ONTARIO -- (Marketwired) -- 06/27/16 -- Firan Technology Group Corporation (TSX: FTG) ("FTG") announces a licensing agreement between FTG and EarthOne Circuit Technologies Corporation ("EarthOne"), whereby FTG will license the eSurface technology owned by EarthOne for use in the manufacture of printed circuit boards. The eSurface technology is proprietary to EarthOne and is used to prepare a wide array of surfaces for metallization. This technology enables printed electronics on a wide range of materials, can work on three dimensional geometries, can yield finer traces with better edge geometries and is a large step towards additive manufacturing. FTG's Chatsworth facility will be the first to implement the eSurface technology.
FTG was introduced to the eSurface technology almost 4 years ago and has been working collaboratively with EarthOne to prove out and advance eSurface technology. The execution of the license agreement is a testament to the value and confidence in the game changing eSurface technology.
"FTG continuously investigates future circuit board manufacturing technologies suitable to the Aerospace and Defense market, such as various additive manufacturing processes and concluded that the eSurface technology is very appropriate for the needs of our customers. This process will help us in producing finer pitch printed circuit boards with improved signal integrity critical to high density and RF applications," stated Brad Bourne, President and CEO of FTG Corporation.
EarthOne's President, Dr. William Wismann, stated, "We are fortunate to have such a capable partner so close to our base operations. We have worked with FTG for several years and look forward to a continued partnership of successes."
Michael Labrador, President of the FTG Chatsworth facility commented, "We are as excited as our customers! FTG has already engaged with a number of globally recognized customers specifically aimed at utilizing eSurface and the advances it provides."
Under the terms of the agreement, FTG is to adopt eSurface for the manufacturing of select high technology electronic parts. FTG plans to undertake an expedited eSurface implementation schedule that includes tooling, engineering, production, quality, sales and service functions. The initiative is expected to result in commercial production within three months, with a goal to scale eSurface production rapidly as the technology becomes a keystone to FTG's future technology roadmap.
ABOUT EARTHONE CIRCUIT TECHNOLOGIES CORPORATION (DBA ESURFACE TECHNOLOGIES)
eSurface Technologies is the creator of the eSurface process, a proprietary patent-pending process that can dramatically impacts the manufacturing and design segment of multiple industries. The initial adoption of the eSurface process by the global circuit board manufacturing industry is leading to the innovation of products previously not thought possible. EarthOne Circuit Technologies Corporation (DBA as eSurface Technologies, a privately-held corporation) is based in Newbury Park, California.
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, Fort Worth, Texas 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:
eSurface
Rowland Hanson
Strategic Communications
rhanson@esurface.com
eSurface
Doug Molyneux
Investor Relations
dougmolyneux@esurface.com
FTG
Bradley C. Bourne
President and CEO
bradbourne@ftgcorp.com
(416) 299-4000, ext. 314
FTG
Joseph R. Ricci
Vice President and CFO
joericci@ftgcorp.com
(416) 299-4000, ext. 309
