Firan Technology Group Corporation (FTG) Announces Rockwell Collins Enterprise Source Agreement
Toronto, March 11, 2009 - Firan Technology Group Corporation announced today that its Circuits Division in Toronto, Canada has finalized an enterprise sourcing agreement with Rockwell Collins for the supply of complex, high reliability printed circuits.
The agreement incorporates over 370 part numbers and is estimated to be worth $10.3 million Canadian over 3 years. The award represents approximately a 7% revenue increase over the previous contract. The award acknowledges FTG’s continued commitment to Supplier Excellence.
FTG Circuits - Toronto has been a preferred supplier to Rockwell Collins for over 25 years supplying a wide variety of printed circuit boards built with some of the most advanced materials and complex features. FTG Circuits is aligned as a strategic partner by supporting existing programs, providing manufacturing and process development support, while investing in new technology qualification for future products and programs. Rockwell continues to award FTG on our efforts by supporting new opportunities within Rockwell division’s worldwide.
“We appreciate the trust Rockwell Collins has in our products and performance”, stated Ian Maknyik, Director of Business Development “and we look forward to continuing to support Rockwell Collins’ business success under this new agreement”.
In addition to FTG Circuits - Toronto providing printed circuit board manufacturing services to Rockwell Collins, FTG Aerospace, a manufacturer of illuminated cockpit control products, also has maintained a Preferred Supplier status with Rockwell Collins since 2003 and was awarded both the Top Commodity Supplier award and Lean Manufacturing award for 2007.
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