Firan Technology Group Corporation (FTG) Builds On Competitive Advantage Through New Production Tech
--ADVANCES PRODUCTION CAPABILITIES WITH LASER DIRECT IMAGING SYSTEM--
Toronto, January 27, 2009 – Firan Technology Group Corporation (“FTG”) today announced that it has installed a Laser Direct Imaging (LDI) system in its FTG Circuits-Toronto facility. The system will enable FTG to increase its capabilities to produce high density interconnect (HDI) products, which will further enhance its competitive advantage in its current printed circuit board (PCB) business lines, as well as create opportunities for FTG to bid on new programs in the aerospace and defense markets.
FTG purchased the Paragon 8000 system from Orbotech Ltd. (Orbotech), a global leader in advanced production technology, building on the long-term relationship between the two companies. The Paragon 8000 is cutting-edge technology that only a few North American PCB manufacturers possess. With imaging resolution down to 0.000125”, the technology enables FTG to increase its capabilities to produce circuit boards with finer lines and spaces, which in turn allows customers to reduce the size and weight of electronics packages for their programs. Additionally, with its automated alignment features, the equipment will improve FTG’s ability to accurately register circuitry images with drilled holes and other features and optimize its production processes by eliminating a number of manufacturing steps thereby improving cycle times for new products.
“FTG continues to invest across its businesses to provide the highest level of technology to our aerospace and defense customers”, stated Brad Bourne, President and CEO, FTG Corporation. He added, “This equipment is an important investment in support of our efforts to provide HDI capabilities to our customers. As well, the systems will positively impact our margins through more efficient operations and allowing us to bid on more technically advanced programs.”
ABOUT FIRAN TECHNOLOGY GROUP CORPORATION
FTG is an aerospace and defense electronics product and subsystem supplier to the North American marketplace. 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 and Chatsworth, California.
FTG Aerospace manufactures illuminated cockpit panels, keyboards and sub-assemblies for original equipment manufacturers of avionics products as well as airframe manufacturers located in Toronto, Ontario.
The Corporation's shares are traded on the Toronto Stock Exchange under the symbol FTG.
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.
For further information please contact:
Bradley C. Bourne,
President and CEO
Tel: (416) 299-4000 x314
Firan Technology Group Corporation
Joseph R. Ricci,
Vice President and CFO
Tel:(416) 299-4000 x309
Firan Technology Group Corporation
Additional information can be found at the Corporation’s website www.ftgcorp.com