FTG IS AWARDED ORION SPACECRAFT COCKPIT PRODUCT DEVELOPMENT CONTRACT
TORONTO, ONTARIO – (October 3, 2018) – Firan Technology Group Corporation (TSX:FTG) is pleased to announce it has been selected for the engineering, manufacturing and testing of “Cockpit Illuminated Products” as part of the NASA Orion Exploration Mission 2 (EM2) launch spacecraft. The EM2 cockpit is the final version prior to manned flight scheduled in late 2020.
FTG will be providing the EM2 cockpit products directly to a major OEM who is a subcontractor to NASA - Lockheed for the Orion project.
The engineering and production of these cockpit products will be undertaken at FTG’s US based operations. The engineering development unit portion of the work commences immediately and will be completed over a period of about 6 months. The flight portion will continue over a period of about 18 months.
“Manned space missions require the highest quality and reliability and we are honored that we have been selected to design, build, test and deliver equipment for this exciting program”, stated Brad Bourne, President and CEO, FTG Corporation.
The Orion Multi-Purpose Crew Vehicle (Orion MPCV) is an American interplanetary spacecraft intended to carry a crew of four astronauts to destinations at or beyond low Earth orbit. Currently under final development by NASA, Orion is intended to facilitate human exploration of the moon, asteroids and of Mars and to retrieve crew or supplies from the International Space Station if needed.
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.
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
Firan Technology Group Corporation
Tel: (416) 299-4000, ext. 314
Melinda Diebel, Vice President and CFO
Firan Technology Group Corporation
Tel: (416) 299-4000, ext. 264
Additional information can be found at the Corporation’s website www.ftgcorp.com