MTI Global Inc.

MTI Global Inc.

October 11, 2006 10:06 ET

MTI Global Approved and Added to Boeing's 'Qualified Processors List'

MTI achieves milestone prior to first delivery of 787 insulation system

MISSISSAUGA, ONTARIO--(CCNMatthews - Oct. 11, 2006) - MTI Global Inc. (TSX:MTI) announced today that it has been added to the Qualified Processors List (QPL) for the fabrication and rework of thermal acoustic blankets for all Boeing aircraft programs.

The Boeing Commercial Airplanes (BCA) mandates that all programs must have qualified vendors who must demonstrate specific capability to manufacture thermal acoustic insulation blankets to the Boeing Process Specification BAC 5355 for Methods 1 through 4. MTI Global has successfully met all the requirements and has passed a thorough audit of both its manufacturing and engineering systems.

The approval is required for MTI PolyFab to begin work with Spirit Aerosystems Inc. of Wichita, Kansas. The work is for thermal acoustic insulation for the nose and forward fuselage sections of the all-new Boeing 787 Dreamliner aircraft.

"This is a significant milestone for MTI PolyFab," said Bill Neill, President and Chief Executive Officer. "Successfully achieving this approval after an extensive audit process is a testament to our internal capabilities and confirms our ability to meet and exceed the most rigorous industry standards."

"Achieving this approval is not only mandatory for the new Dreamliner Program, but is also a requirement to supply any of the sustaining Boeing programs," said Marc Simard, Executive Vice President, MTI Global's aerospace division. "Additionally, this also pre-qualifies us as potential suppliers for thermal acoustic insulation work with all commercial and military Boeing Programs."

The first delivery of the MTI PolyFab thermal insulation system will be in late 2006. The first flight of the 787 is scheduled for 2007. Boeing has received orders for a total of 436 airplanes from 33 different customers located in five continents of the world, making this the most successful launch of a new commercial airplane in Boeing's history.

About the Company

MTI Global Inc. 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, institutional, electronics, and the medical market through a 51% interest in Sterne SARL of Cavaillon, France. MTI's head office and Canadian manufacturing operations are located in Mississauga, Ontario, with international manufacturing operations located in Richmond and Buchanan, Virginia; Bremen, Germany; and a joint venture in Baja, Mexico. The Company also has sales operations in England and Sweden, and an engineering support centre in Brazil.

The foregoing press release contains forward-looking statements and 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 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 MTI Global Inc. disclaims any intention or obligation to update or revise any forward-looking statements.

Contact Information

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