FTG Announces Changes to Board of Directors
Toronto, April 21, 2011 – Firan Technology Group Corporation (TSX:FTG) today announced changes to its Board of Directors.
The FTG Board of Directors has appointed Mr. Robert Beutel, a director, officer and shareholder of Oakwest Corporation Limited ("Oakwest"), to the FTG Board in accordance with applicable corporate law. Oakwest recently acquired the block of shares representing approximately 47% of the outstanding FTG common shares that were previously held by Glendale International Corporation.
Mr. Brian Jennings and Mr. Murray Hannan have resigned from the FTG Board. The Corporation thanks Mr. Jennings and Mr. Hannan for their years of service to the Corporation and their valuable insight and perspectives throughout their tenures.
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 and Chatsworth, California.
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 and is opening a facility in Tianjin, China in 2011.
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 firstname.lastname@example.org
Joseph R. Ricci, Vice President and CFO
Tel:(416) 299-4000 x309
Firan Technology Group Corporation email@example.com
Additional information can be found at the Corporation’s website www.ftgcorp.com