Firan Technology Group Corporation
TSX : FTG

Firan Technology Group Corporation

February 09, 2015 07:30 ET

Firan Technology Group (FTG) Announces New Forty-Two Month Long Term Agreement With Rockwell Collins

TORONTO, ONTARIO--(Marketwired - Feb. 9, 2015) - Firan Technology Group Corporation (TSX:FTG) announced today that it has been awarded a new multi-year Enterprise Sourcing Agreement from Rockwell Collins for the supply of Printed Wiring Boards. The agreement incorporates a variety of technologies for use on major airframe platforms across Business Regional, Air Transport and Government Systems market applications.

The new forty-two month (three and a half year) contract is a multimillion dollar award. The award represents an estimated 15% revenue increase over the previous contract. FTG was successful in maintaining all legacy programs while capturing new scope across a number of programs.

A large portion of the new business award has been attributed to FTG's ability to offer global solutions. Rockwell Collins selected FTG's global manufacturing solutions following in-depth audits and technology qualification.

"FTG appreciates the trust Rockwell Collins has in our ability to deliver quality product and adapt to the ever changing technologies and economic conditions," stated Ian Maknyik, Director of Business Development. "We look forward to sharing future success with Rockwell Collins and growth opportunities for years to come."

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