TORONTO, ONTARIO — (Marketwired) — 02/09/15 — Firan Technology Group Corporation (TSX: FTG) announced today that it has been awarded a new multi-year Enterprise Sourcing Agreement from Rockwell Collins for the supply of Printed Wiring Boards. The agreement incorporates a variety of technologies for use on major airframe platforms across Business Regional, Air Transport and Government Systems market applications.
The new forty-two month (three and a half year) contract is a multimillion dollar award. The award represents an estimated 15% revenue increase over the previous contract. FTG was successful in maintaining all legacy programs while capturing new scope across a number of programs.
A large portion of the new business award has been attributed to FTG–s ability to offer global solutions. Rockwell Collins selected FTG–s global manufacturing solutions following in-depth audits and technology qualification.
“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 Collins and growth opportunities for years to come.”
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:
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.
Additional information can be found at the Corporation–s website .
Contacts:
Firan Technology Group Corporation
Bradley C. Bourne
President and CEO
(416) 299-4000 x314
Firan Technology Group Corporation
Joseph R. Ricci
Vice President and CFO
(416) 299-4000 x309
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