Firan Technology Group Corporation (FTG) Announces Multi-Year Contract Award
from Rockwell Collins
TORONTO, ONTARIO -- (Marketwire) -- 02/25/13 -- Firan Technology
Group Corporation (TSX:FTG) announced today that it has been awarded
a new multi-year Human Machine Interface (HMI) Enterprise Sourcing
Agreement from Rockwell Collins. The agreement incorporates a variety
of avionic products for major airframe platforms across Business
Regional, Air Transport and Government Systems market applications.
The new HMI contract is estimated at more than $33 Million USD. This
represents a significant revenue increase over the previous contract.
FTG was successful in maintaining historical programs and capturing
new scope across a number of programs. The products to be supplied
consist of Military Ground Guidance Sub-Assemblies, Avionic Cockpit
Controls, Illuminated Panels, Bezels, and Keyboards.
FTG will manufacturer the majority of the product at its FTG
Aerospace Division located in Toronto, Canada. Additional activity
will take place at FTG Aerospace Tianjin, located in Tianjin China.
Firan Technology Group has been a strategic supplier to Rockwell
Collins for over 30 years.
"FTG appreciates the trust Rockwell Collins has in our ability to
deliver quality product, and adapt to the ever changing technologies
and economic conditions," stated Ian Maknyik, Director of Business
Development. "We look forward to sharing future success with Rockwell
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 and Chatsworth, California.
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
Additional information can be found at the Corporation's website
Firan Technology Group Corporation
Bradley C. Bourne
President and CEO
(416) 299-4000 x 314
Firan Technology Group Corporation
Joseph R. Ricci
Vice President and CFO
(416) 299-4000 x 309
Press spacebar to pause and continue. Press esc to stop.