Firan Technology Group Corporation
TSX : FTG

Firan Technology Group Corporation

September 06, 2016 17:10 ET

Firan Technology Group Announces Organizational Changes

TORONTO, ONTARIO--(Marketwired - Sept. 6, 2016) - Firan Technology Group Corporation (TSX:FTG) announced today the retirement of Joseph R. Ricci, Vice President and CFO. Joe will remain with FTG in an advisory role to ensure an orderly leadership transition to the new CFO over the next number of months. Joe's decision to retire will bring to a close a remarkable career of nearly fourteen years of continuous service to the Corporation and its stockholders. During his time at FTG, the Corporation transitioned into a publicly listed company, grew more than four-fold in size and expanded operations into the US and China.

"I have worked with Joe for more than 30 years. He has been a great partner, trusted advisor and lifelong friend," stated Brad Bourne, President and CEO, FTG Corporation. He added, "The Board and leadership team is grateful for his innumerable contributions to the Corporation and his distinguished tenure as CFO."

Joe Ricci commented, "I am proud of the accomplishments we have achieved at FTG and I believe the Corporation is positioned well for future growth and success."

Effective today, the Corporation would like to welcome Melinda Diebel, CPA, CA, C.Dir to the leadership team. Melinda assumes the role of Vice President and CFO. Melinda has extensive experience in senior finance roles within manufacturing, most recently serving as the CFO and VP, Finance of Automodular Corporation.

"We are very pleased to welcome Melinda to the leadership team at FTG. She brings extensive knowledge and experience, making her well-positioned to help us continue to strengthen FTG and to accelerate our growth. I look forward to working closely with her," said Brad Bourne.

"I am excited to join FTG's exceptional team," stated Melinda, adding, "I look forward to working with Brad and the rest of the team to continue FTG's success in the aerospace and defense markets."

ABOUT FIRAN TECHNOLOGY GROUP CORPORATION

FTG is an aerospace and defense electronics product and subsystem supplier to customers around the globe. 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, Chatsworth, California, Hudson, New Hampshire and a joint venture in Tianjin, China.

FTG Aerospace manufactures illuminated cockpit panels, keyboards and sub-assemblies for original equipment manufacturers of aerospace and defense equipment. FTG Aerospace has operations in Toronto, Ontario, Chatsworth, California, Fort Worth, Texas and Tianjin, China.

The Corporation's shares are traded on the Toronto Stock Exchange under the symbol FTG.

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements. These forward-looking statements are related to, but not limited to, FTG's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains words such as "anticipate", "believe", "expect", "plan" or similar words suggesting future outcomes. Such statements are based on the current expectations of management of the Corporation and inherently involve numerous risks and uncertainties, known and unknown, including economic factors and the Corporation'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 Corporation. The reader is cautioned to consider these and other factors carefully when making decisions with respect to the Corporation and not place undue reliance on forward-looking statements. Other than as may be required by law, FTG disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

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