MTI Global Inc.
TSX : MTI

MTI Global Inc.

January 14, 2010 12:56 ET

Heath Tecna Selects MTI Global to Supply Insulation Materials for the Mitsubishi Regional Jet

MISSISSAUGA, ONTARIO--(Marketwire - Jan. 14, 2010) - MTI Global Inc. (TSX:MTI) announced today that MTI PolyFab Inc. has been selected by Heath Tecna of Bellingham, Washington to supply a thermal and acoustic insulation system for the new Japanese MRJ (Mitsubishi Regional Jet) program.

Launched in 2008 by Mitsubishi Aircraft Corporation, MRJ is scheduled to have its first flight in 2012.

Demonstrating a strong market acceptance of this program, all Nippon Airways and Trans States Holdings have already ordered a total of 125 aircraft including options.

"PolyFab continues to strengthen its market position in the regional aircraft market," said Bill Neill, President and Chief Executive Officer. "We are confident that this will become a long-term working relationship with both Heath Tecna and Mitsubishi and will look for continued collaboration on future opportunities."

About MTI Global Inc.

MTI Global Inc. (TSX:MTI) designs, develops and manufactures custom-engineered products using silicone and other cellular materials. The Company serves a variety of specialty markets focused on three main product categories: Silicone, Aerospace and Fabricated Products. MTI's manufacturing divisions develop and produce silicone foam using patented technology. The Company designs and fabricates energy management systems from a variety of flexible cellular materials. MTI also produces and distributes specialty silicone elastomer products. MTI's primary markets are aerospace and mass transit. Secondary markets include sporting goods, automotive, industrial and institutional electronics. MTI's head office and Canadian manufacturing operations are located in Mississauga, Ontario, with manufacturing operations located in Pensacola, Florida; and a contract manufacturer venture in Ensenada, Mexico. The Company's website is www.mtiglobalinc.com.

About Heath Tecna

Heath Tecna Inc. is the foremost supplier of passenger aircraft interiors and components worldwide. The company designs, manufactures, and supplies passenger aircraft interiors and components for airlines and original equipment manufacturers. For more than 30 years it has designed, manufactured and certified interior components for a total of more than 6,000 aircraft around the world. It has manufacturing facilities in Bellingham, Washington; and, Australia. The company was founded in 1950 and is based in Bellingham, Washington. Heath Tecna, Inc. operates as a subsidiary of Premium Aircraft Interiors Group Ltd.

About Mitsubishi Aircraft Corporation

Mitsubishi Aircraft Corporation (MJET) commenced operation on April 1, 2008 to conduct the design, type certification, procurement, sales & marketing and customer support of the Mitsubishi Regional Jet (MRJ). It is currently capitalized at 100 billion yen, with this financing being furnished by, among others, Mitsubishi Heavy Industries, Ltd., Toyota Motor Corporation, Mitsubishi Corporation, Sumitomo Corporation and Mitsui & Co., Ltd.

About MRJ

The Mitsubishi Regional Jet (MRJ) is a family of 70- to 90-seat next-generation regional jets, which will offer both top-class operational economy and outstanding cabin comfort based on a vision of applying advanced mainline jet technology to create a new standard for next-generation regional jets.

The MRJ is under development by MJET and will be based on cutting-edge technology cultivated by Mitsubishi Heavy Industries, Ltd. (MHI) during its many years engaged in the development and manufacture of both military and commercial aircraft.

By featuring state-of-the-art aerodynamic design, noise analysis technologies and a game-changing engine, the MRJ will significantly cut fuel consumption, noise and emissions, consequently improving competitiveness and profitability for airlines. The MRJ will have a four-abreast seat configuration, with large overhead bins, and also feature an innovative slim seat that offers heightened comfort to passengers.

The foregoing press release contains forward-looking statements including with respect to the date anticipated for the first MRJ flight, Polyfab's strengthened market position and potential collaboration on future opportunities, each of which is subject to important risks and uncertainties. Although MTI Global believes that the expectations reflected in any forward-looking statements are reasonable, the results or events predicted in these statements may differ materially from actual results or events. Forward looking statements are based on estimates and assumptions derived from past experience, historical trends, current conditions and expected future developments. Many factors could cause results or events to differ from current expectations, including potential delays associated with the development, design and production of the MRJ, the impact of price and product competition, general industry and market conditions and growth rates and reliance on key customers. For additional information with respect to these and other factors, see the reports filed by MTI Global Inc. with the applicable securities regulatory authorities at www.sedar.com. MTI Global Inc. disclaims any intention or obligation to update or revise any forward-looking statements, except as required by law.

Contact Information

  • MTI Global Inc.
    Bill Neill
    President and Chief Executive Officer
    (905) 564-9700
    or
    Fleishman-Hillard Canada
    Alison Ford
    Investor Relations
    (416) 214-0701