FTG Awarded Multi-Million Dollar Contract for KC-46 Simulator
FIRAN TECHNOLOGY GROUP CORPORATION (“FTG”) IS AWARDED A MULTI MILLION DOLLAR CONTRACT FOR THE DELIVERY OF KC-46 SIMULATED COCKPIT CONTROL DEVICES AND BOOM OPERATOR TRAINING STATIONS
Toronto, Ontario (March 14, 2018) – FTG Aerospace Toronto, a division of Firan Technology Group Corporation (TSX:FTG) today announced it received a contract from FlightSafety International for the delivery of multiple sets of simulated KC-46 cockpit control devices and simulated Boom Operator Trainers. FTG will provide its latest iteration of high fidelity simulated equipment to support FlightSafety’s various full motion flight simulators.
FTG first engaged with FlightSafety as a result of the acquisition of PhotoEtch in March 2016. FTG and FlightSafety have previously completed a contract for design and delivery of similar products for KC-46 simulators. This contract is the largest one entered into by the two companies to date and includes increased scope and quantities from the original program.
First deliveries under the new contract will begin in Q3 2018 and will continue through the first half of 2019.
“This contract award underscores FTG’s position as a leading provider of cockpit control devices both for flight and simulated equipment used for training centers worldwide,” said Peter Dimopoulos, VP Business Development of FTG Corporation. “We are committed to delivering the highest fidelity flight deck equipment to ensure our partners have the ability to establish realistic training environments that accurately simulate flight controls in the aircraft.”
The Boeing KC-46 Pegasus is a military aerial refueling and strategic military transport aircraft developed by Boeing from its 767 jet airliner. In February 2011, the tanker was selected by the United States Air Force (USAF) as the winner in the KC-X tanker competition to replace the KC-135 Stratotankers.
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, Fort Worth, Texas 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 x 314
Melinda Diebel, Vice President and CFO
Firan Technology Group Corporation
Tel: (416) 299-4000 x 264