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Firan Technology Group Corporation (FTG or Corporation) Reaches Agreement With Represented Employees for a New Four Year Contract

TORONTO, July 18, 2018 (GLOBE NEWSWIRE) — Firan Technology Group Corporation (TSX:FTG) is pleased to announce a new contract with its represented employees at its Circuits – Toronto facility has been negotiated and ratified. 

The contract is for four years, and expires in July 2022.  The contract recognizes the ongoing strong performance at that site and the commitment to continuous improvement by everyone.

“I believe the contract is well balanced with improved wages and benefits for the employees that are the direct result of the commitment by everyone to improve productivity through an ongoing focus on operational excellence,” stated Brad Bourne, President and CEO, FTG Corporation.

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.

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 CEO   Tel:  (416) 299-4000, ext. 314 
Firan Technology Group Corporation   bradbourne@ftgcorp.com
     
Melinda Diebel, Vice President and CFO   Tel:  (416) 299-4000
Firan Technology Group Corporation    melindadiebel@ftgcorp.com 

Additional information can be found at the Corporation’s website   www.ftgcorp.com

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