FTG ANNOUNCES FULL YEAR AND FOURTH QUARTER 2017 FINANCIAL RESULTS
FTG ANNOUNCES FULL YEAR AND FOURTH QUARTER 2017 FINANCIAL RESULTS
Toronto, February 7, 2018 – Firan Technology Group Corporation (TSX:FTG) today announced financial results for the full year and fourth quarter 2017.
– Achieved record annual sales of $94.7M, an increase of 9% over full year 2016
– Completed the integration of PhotoEtch and closed the facility in December 2016
– Closed the Teledyne PCT facility in May and ramped up production in Chatsworth in Q4
– Completed equipment installation for a dedicated outer layer production facility for Aerospace circuit boards at FTG Printronics Circuit – the joint venture in Tianjin China
“2017 was a year of transitioning work from the acquired facilities in 2016 to FTG facilities. There were many challenges in the transitions and it took longer than expected but by year end the transitions were complete,” stated Brad Bourne, President and Chief Executive Officer. He added, “Going into 2018, we are pleased with our position in the market and our growth opportunities that could materialize from organic sales and from acquisitions.”
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