Firan Technology Group Announces New Long Term Supply Contract
Toronto, April 26, 2005 – FTG Circuits Inc. (“FTG Chatsworth”), a wholly owned subsidiary of Firan Technology Group Corporation (“FTG”) announced today that it has signed a three-year sourcing agreement with Honeywell International Inc. (“Honeywell”). The agreement has an approximate value of US$9.0M, provided all terms and conditions of the contract are met over the three-year period.
FTG Chatsworth has been a supplier to Honeywell since 1988. This contract renewal highlights the strong relationships that have been created over the years. In addition, this contract demonstrates FTG’s commitment and excellence in serving both the aerospace and defence markets in North America.
“Aerospace is a primary industry segment for our business today and in the future. Honeywell is a very important customer within this industry segment. This agreement, as well as others, has made FTG a leading provider of printed circuit solutions to the aerospace industry in North America”, said Brad Bourne, President and CEO of Firan Technology Group.
“We have shared a strong relationship with Honeywell in Albuquerque over the years. FTG currently manufactures the majority of their part numbers on a wide variety of materials and technologies. As Honeywell continues to grow, we see even more opportunity for FTG to meet their ongoing requirements” added Tim Snodgrass, President of FTG Chatsworth.
ABOUT FIRAN TECHNOLOGY GROUP CORPORATION
FTG is an aerospace and defence electronics product and subsystem supplier to the North American marketplace. FTG has three operating units.
FTG Circuits is a manufacturer of high technology/high reliability printed circuit boards. Our customers are leaders in the aviation, defence, and high technology industries. This business operates from facilities 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.
The Company's shares are traded on the Toronto Stock Exchange under the symbol FTG.
This news release contains certain forward-looking statements that reflect the current views and/or expectations of FTG with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
For further information please contact:
Bradley C. Bourne, President and CEO Tel: (416) 299-4000 x314
Firan Technology Group Corporation firstname.lastname@example.org
John Bartkiw, CFO Tel: (416) 299-4000 x390
Firan Technology Group Corporation email@example.com