FTG Announces Facility in Tianjin China Has Shipped It's 10,000th Aircraft Flight Deck Product
Toronto, June 18, 2014 - Firan Technology Group Corporation (TSX: FTG) announced today that it has shipped its 10,000th aircraft flight deck product from its facility in Tianjin China.
In 2010, FTG established FTG Aerospace Tianjin as a wholly owned foreign enterprise in Tianjin, China. The business was established to manufacture illuminated cockpit products and offer a combination of Asian content and a low-cost-country solution to FTG’s customers around the world. In 2012, the facility achieved its AS9100C certification for manufacturing and shipped its first product. In 2014, the facility added design to its AS9100C certification and today we are announcing that FTG Aerospace Tianjin has shipped its 10,000th illuminated flight deck product.
“It has been amazing to watch the development and growth of our new facility in Tianjin. The team there has learned so much and has developed world class skills in illuminated cockpit products”, stated Brad Bourne, President and CEO, FTG Corporation. He added, “This accomplishment could not have been achieved without the support of many other people and organizations including our team at FTG Aerospace Toronto who provided technical training and manufacturing support, the Tianjin Airport Economic Area team who generously provided financial support, and of course, our customers.”
“I am proud of the efforts of every member of our team in Tianjin and they should be very proud of their achievements in such a short period of time”, noted Claude Bougie, President, FTG Aerospace Tianjin. He added “As we look forward, the future holds many new and excited challenges for our business in Tianjin including building an engineering team to support new designs, and moving into more complex products such as integrated switch panels and keyboards. We are ready for these challenges. ”
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.
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.
For further information please contact:
Bradley C. Bourne, President and CEO
Firan Technology Group Corporation
Tel: (416) 299-4000 x314
Joseph R. Ricci, Vice President and CFO
Firan Technology Group Corporation
Tel: (416) 299-4000 x309
Additional information can be found at the Corporation’s website www.ftgcorp.com