MTI Global Inc.

MTI Global Inc.

April 06, 2006 08:38 ET

MTI Global Awarded Airbus A400M Insulation Contract from Aerosud Interiors 'PTY' Ltd.

HAMBURG, GERMANY--(CCNMatthews - April 6, 2006) - Aircraft Interiors Show April 6th, 2006 -

Contract to Supply Secondary Insulation on Interior Paneling and Fixtures

MTI Global Inc. (TSX:MTI) announced today the award of a new contract from Aerosud Interiors (PTY) Ltd., an established leader in the South African aviation industry. MTI's PolyFab division will supply a secondary insulation system on the Airbus A400M aircraft.

"Once again MTI's distinctive engineering and product knowledge was instrumental in winning this major contract," said Bill Neill, President and Chief Executive Officer. "We are thrilled to begin work with Aerosud Interiors, our new South African partners, to provide high quality insulation systems on this very important program."

Johan Steyn, Aerosud's Managing Director, expressed great confidence in the approach and concept created by MTI. "We want to provide the best and most complete product solution to Airbus, and MTI is a natural partner to help us achieve this goal."

Based on team projected program volumes over the life of the contract, the estimated value could reach approximately $15,000,000 USD over the next 20 years. The first delivery of the MTI PolyFab thermal insulation system is expected in the second half of 2006. The first flight of the A400M is scheduled in 2008 with the first aircraft delivery slated for 2009.

Thorsten Schmidt, Program Manager for MTI in Bremen, Germany, believes the contract to be a significant step forward for the Company. "MTI's ability to supply both Airbus and tier-one suppliers was a factor in securing the contract. The quality management system and controls we have set up to work effectively in the European aerospace industry have made this possible."

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. The results or events predicted in these statements may differ materially from actual results or events. Factors that could cause results or events to differ from current expectations include 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 Ontario Securities Commission. 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