MTI Global Inc.
TSX : MTI

MTI Global Inc.

September 12, 2007 16:45 ET

MTI Global Inc. Awarded Two New Bombardier Aerospace Contracts

MTI reinforces its leadership position in the regional and business jet markets

MISSISSAUGA, ONTARIO--(Marketwire - Sept. 12, 2007) - MTI Global Inc. (TSX:MTI) announced today that it has been selected by Bombardier Aerospace to supply thermal and acoustic insulation systems for two new aircraft programs.

The first contract is for the new CRJ1000 NextGen regional jet, which is the next step in the evolution of the world's most successful family of regional aircraft. The program was launched in February 2007 with firm orders, conditional orders and options for more than 60 aircraft. First flight is scheduled for the summer of 2008 and the first delivery is scheduled to be in the fourth quarter of calendar year 2009.

"With this contract, MTI PolyFab continues to demonstrate its leadership position in the commercial aviation industry" said Bill Neill, President and Chief Executive Officer. "MTI PolyFab is proud of its longstanding relationship with Bombardier Aerospace dating back to development of the original 50 seat CRJ100 aircraft in the early 1990s."

The second contract is for the new Learjet 60 XR business jet model, which received type certification in July 2007. "MTI-PolyFab has been supporting Learjet in the development of this new model since program launch in November of 2005," said Marc Simard, Executive Vice President. "Our collaborative effort has resulted in a new state-of-the-art system design which will help continue to make Learjet an industry leader in the midsize jet category."

MTI Global Inc. estimates total revenue to exceed $20,000,000 CDN over the life of the contracts.

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, and 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 company's website is www.mtiglobalinc.com.

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.
    William Neill
    President & CEO
    (905) 564-9700
    Website: www.mtiglobalinc.com
    or
    Fleishman-Hillard Canada
    David Scott
    Investor Relations
    (416) 214-0701