Firan Technology Group Corporation (FTG) Signs US $5 Million Long Term Agreement with Smiths Aerospa
Firan Technology Group Corporation (FTG) Signs US $5 Million Long Term Agreement with Smiths Aerospa
Firan Technology Group Corporation announced today that its FTG Circuits facilities have signed a long Term Agreement with Smiths Aerospace for the supply of complex, high reliability printed circuits.
This agreement incorporates over 250 part numbers and is estimated to be worth US $5 million over 2 years.
FTG Circuits operating unit is comprised of two facilities: one in Toronto, Canada and the other in Chatsworth, California. Both facilities have been a preferred supplier to Smiths Aerospace for over 10 years and supply a wide variety of printed circuit boards built with some of the most advanced materials and complex features.
FTG Circuits considers Smiths to be a strategic partner. FTG supports existing programs and is also involved in providing products for newer programs such as the 787 Dreamliner.
“FTG has been able to increase revenue in this agreement. In addition, Smiths is also looking at FTG to supply new technologies and products from their FTG Aerospace operating unit to further build on this strong relationship” stated Rick Versage, Director of Business Development for the US South East Region of FTG Corporation, “and we look forward to future success with Smiths”.
“FTG Circuits has invested incredible efforts over the past few years to build one of North America”s leading suppliers of printed circuit boards to the Aerospace and Defence market. We are excited about this commitment from Smiths as it continues to leverage the core competencies in all of our divisions”, added Brad Bourne, President and CEO, FTG Corporation.
ABOUT FIRAN TECHNOLOGY GROUP CORPORATION
FTG is an aerospace and defence 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, defence, 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 x 314
Firan Technology Group Corporation
bradbourne@firantechnology.com
Joseph R. Ricci, Vice President and CFO
Tel: (416) 299-4000 x 309
Firan Technology Group Corporation
joericci@firantechnology.com
Additional information can be found at the Company”s web site www.firantechnology.com
