Firan Technology Group Corporation
TSX : FTG

Firan Technology Group Corporation

March 19, 2015 17:05 ET

Firan Technology Group Corporation (FTG) Announces Its Aerospace Toronto Facility has Been Qualified by the United States Department of Defense for the Supply of Cockpit Panels

TORONTO, ONTARIO--(Marketwired - March 19, 2015) - FTG Aerospace (TSX:FTG) - Toronto announced today that it has been qualified for the supply of a range of cockpit panels in accordance with MIL-DTL-7788.

The approval scope includes all types of illuminated panels manufactured with incandescent lamps, LEDs, and most types manufactured with electroluminescent lamps. In addition to the full range of illuminated colors, the approval includes night vision compatible panels for the above three light sources.

To achieve these qualifications, FTG was required to be AS9100 certified, to successfully pass an on-site audit, to build the full range of products meeting all of the technical requirements and to pass multiple environmental tests to demonstrate the product meets the quality requirements of end-users.

This qualification is another example of FTG's commitment to having the widest range of capabilities in the industry and to demonstrating a commitment to quality through third party audits and certifications.

"FTG is growing its cockpit product business in both the defense and commercial aerospace markets by offering a full range of products used by our customers and by providing exceptional quality", stated Brad Bourne, President and Chief Executive Officer of FTG. "This qualification is the result of extensive testing of our hardware and demonstrating it can withstand the very harsh environment seen in defense applications."

ABOUT MIL-DTL-7788

MIL-DTL-7788 is a specification outlining the requirements for the manufacturing and testing of Integrally Illuminated Information Panels, for the Unites States Department of Defense. The certification process is managed through the Defense Logistics Agency - Aviation in Richmond, Virginia.

The qualified products database (QPD) can be found at https://assist.dla.mil.

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 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 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.

Additional information can be found at the Corporation's website www.ftgcorp.com

Contact Information

  • Firan Technology Group Corporation
    Bradley C. Bourne
    President and CEO
    (416) 299-4000 x314
    bradbourne@ftgcorp.com

    Firan Technology Group Corporation
    Joseph R. Ricci
    Vice President and CFO
    (416) 299-4000 x309
    joericci@ftgcorp.com