Firan Technology Group Corporation (“FTG”) Is Awarded Multiple Simulator Products Purchase Orders Totaling $7.5 Million (CAD)
August 23 2022 - 5:10PM
Firan Technology Group Corporation (TSX:FTG) has been awarded a
total of $7.5M in new purchase orders from its two largest
simulator customers. FTG will supply multiple complete sets of
cockpit assemblies for military and commercial simulators for
different aircraft including refueling fixed wing aircraft,
helicopters and business jets. Most of the orders are for repeat
assemblies that have previously been developed and delivered by
FTG. This work will be performed by FTG’s Aerospace segment
facilities in Toronto, Ontario, Chatsworth, California and Tianjin,
China over the next 9-12 months.
“We are pleased to receive these orders from our
key simulator products customers as this is an important business
segment to FTG,” said Brad Bourne, FTG’s President and CEO. He
added, “These contracts represent a significant accomplishment for
the Company and is part of our efforts to recover back to
pre-pandemic levels of activity.”
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, Fredericksburg, Virginia and a joint
venture in Tianjin, China.
FTG Aerospace manufactures and repairs
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.
FORWARD-LOOKING STATEMENTS
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 CEOTel: (416)
299-4000 x 314Firan Technology Group
Corporationbradbourne@ftgcorp.com
James Crichton, Vice President and CFOTel: (416) 299-4000 x
264Firan Technology Group
Corporationjamiecrichton@ftgcorp.com
Additional information can be found at the Corporation’s website
www.ftgcorp.com
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