Firan Technology Group Corporation Pursues US Acquisition


Firan Technology Group Corporation Pursues US Acquisition

Firan Technology Group Corporation (“FTG”) announced today that it has entered into a non-binding letter of intent to purchase a Printed Circuit Board business in the US that is focused on aerospace and defense applications. The purchase price will not exceed US$6,000,000.

“We have previously stated that we would pursue a US based acquisition to reinforce our market focus in aerospace and defense applications and to help us move towards more focused production facilities. We believe this opportunity meets our objectives”, noted Mr. Brad Bourne, President and Chief Executive Officer.

If the transaction proceeds, the Company expects to close the transaction in the fourth quarter of 2004. The closing is subject to the completion of due diligence and among other things, financing, regulatory and board of director approvals.


Firan Technology Group Corporation has two operating divisions. FTG Circuits is a leading supplier of high reliability, high technology printed circuit boards. FTG Aerospace manufactures illuminated panels and keyboards for the civil and military aviation industries. All manufacturing operations are located in Scarborough, Ontario.
The Company’s shares are traded on the Toronto Stock Exchange under the symbol FTG.

This news release contains certain forward-looking statements that reflect the current views and/or expectations of FTG with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.


For further information please contact:

Bradley C. Bourne
President and CEO
Tel: (416) 299-4000 x314
Firan Technology Group Corporation

John Bartkiw, CFO
Tel: (416) 299-4000 x390
Firan Technology Group Corporation