Firan Technology Group Corporation (“FTG”) Renews And Increases Their Contract With Boeing
Firan Technology Group Corporation (“FTG”) Renews And Increases Their Contract With Boeing
Firan Technology Group Corporation (“FTG”), has announced they have signed a new four-year Basic Ordering Agreement with Boeing for the supply of complex high reliability printed circuits for the FA22 program from its FTG Circuits – Chatsworth facility.
The forecasted value of the agreement is approximately US $3.3 million, which represents a significant increase over the previous contract. The contract is based on a firm two-year commitment with a bilateral option to extend the contract for an additional two years.
FTG has been a supplier to Boeing”s Anaheim, CA division for more than 20 years. FTG has achieved a preferred supplier status on their last audit. “We are both grateful and honored that Boeing has increased their business with us. We consider them to be a key part of the success of this facility”, said Michael Labrador, Vice President and General Manager of the FTG Circuits – Chatsworth facility.
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.
The Company’s shares are traded on the Toronto Stock Exchange under the symbol FTG.
This news release contains certain forward-looking statements. Such statements are based on the current expectations of management of the Company and inherently involve numerous risks and uncertainties, known and unknown, including economic factors and the Company”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 Company. The reader is cautioned to consider these and other factors carefully when making decisions with respect to the Company and not place undue reliance on forward-looking statements.
For further information please contact:
Bradley C. Bourne,
President and CEO
Tel: (416) 299-4000 x314
Firan Technology Group Corporation
bradbourne@firantechnology.com
Joseph R. Ricci,
Vice President and CFO
Tel:(416) 299-4000 x309
Firan Technology Group Corporation
joericci@firantechnology.com
Additional information can be found at the Company”s web site www.firantechnology.com
