Firan Technology Group Corporation
TSX : FTG

Firan Technology Group Corporation

April 09, 2015 17:10 ET

Firan Technology Group (FTG) Announces Appointment of New Chairman

TORONTO, ONTARIO--(Marketwired - April 9, 2015) - Firan Technology Group Corporation (TSX:FTG) today announced Mr. Ray Harris has stepped down as Chairman of the Board while remaining as a member of the Board and remaining as Chairman of the Audit Committee. Mr. Robert Beutel will assume the role of Chairman of the Board.

After many years as Chairman of FTG, Mr. Ray Harris has stepped down as Chairman of the Board. During his almost 20 year tenure as Chairman, he successfully guided the company through many important accomplishments and through a number of tumultuous economic cycles. As he steps down, FTG is strong and is well positioned for the future. While Mr. Harris is stepping down as Chairman, he remains a member of the Board of Directors of FTG and as Chairman of the Audit Committee.

The FTG Board of Directors has appointed Mr. Robert Beutel to succeed Mr. Harris as FTG's Chairman of the Board. Mr. Beutel is Chairman of Oakwest Corporation Limited and has served on a number of other public company boards. He has been a director on the FTG Board since 2011.

"On behalf of all of FTG's directors, our employees and our shareholders, I would like to thank Ray for bringing his incredible knowledge and experience to FTG and for his unwavering commitment to the success of the company. We are pleased to have Ray remain on the Board and Chair the Audit Committee where he will be able to continue to contribute to our future success," stated Brad Bourne, President and CEO, FTG Corporation. He added, "We all welcome Robert as the new Chairman, and we look forward to working with him to continue to build a strong and successful company."

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 positioning in the future, FTG's future success, 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