MTI Global Inc.

MTI Global Inc.

September 13, 2005 08:57 ET

MTI-PolyFab Receives Order For Boeing 767 Retrofit

MISSISSAUGA, ONTARIO--(CCNMatthews - Sept. 13, 2005) -

Two Airbus A319 VIP Aircraft Retrofits Also Booked

MTI Global Inc. (TSX:MTI) today announced that its MTI-PolyFab division has been awarded its second contract to retrofit a Boeing VIP 767 aircraft. The company has also been contracted to retrofit two Airbus A319 airplanes customized in the VIP configuration. The work for all three aircraft is deliverable in the fall of 2005 and involves providing thermal, environmental and acoustic insulation.

"We're delighted that our aerospace division, MTI-PolyFab, has secured these important orders in the VIP retrofit market," said Bill Neill, MTI Global President and CEO. "I'm particularly pleased that MagniFlow Design Services, a division of MTI Global, will play a key role in completing the Boeing 767 retrofit."

The work will fall within the 2005 fiscal year and have a total value for all three aircraft of approximately $768,000. The Boeing 767 retrofit was commissioned by Gore Design Completions of San Antonio, Texas, while the Airbus A319 VIP work comes via Associated Air Center, an aircraft outfitting, maintenance and completions company based in Dallas, Texas.

"MTI-PolyFab is enjoying one of its best years ever, and this news builds upon that success," said Mr. Neill. "Growing our business in the retrofit market is a priority for our company and is in line with our stated goal of generating work to counteract the generally cyclical nature of the aerospace industry."

Boeing 767

- Commissioned by Gore Design Completions (San Antonio, TX)

- One Boeing 767

- Work to be provided includes: complete cabin acoustical system and additional environmental control system (ECS) service from MagniFlow to support the VIP acoustical levels

Airbus A319 VIP

- Commissioned by Associated Air Center (Dallas, TX)

- Two Airbus A319s outfitted in the VIP configuration

- Work to be provided includes: Complete cabin acoustical system and additional ECS service from MagniFlow to support the VIP acoustical levels

About the Company

MTI Global Inc., formerly Magnifoam Technology International 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, medical and electronics markets. 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. 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.
    John Boots
    Chief Financial Officer
    (905) 564-9700
    (905) 564-8886 (FAX)
    Fleishman-Hillard Canada
    Anne Lachance
    Investor Relations
    (416) 214-0701
    Fleishman-Hillard Canada
    Aaron Boles
    Investor Relations
    (416) 214-0701