TORONTO, Aug. 23, 2022 (GLOBE NEWSWIRE) — Firan Technology Group Corporation (TSX:FTG) has won new orders totaling $7.5 million from its two largest simulator customers. FTG offers multiple complete sets of cockpit assemblies for military and commercial simulators for a variety of aircraft, including fixed wing aircraft, helicopters and business jet refueling. Most of the orders are for repeat assemblies previously developed and supplied by FTG. The work will take place over the next nine to 12 months at his FTG’s Aerospace Division facilities in Toronto, Ontario, Chatsworth, Calif., and Tianjin, China.

Brad Bourne, President and CEO of FTG, said: “These contracts represent an important achievement for our company and are part of our efforts to restore activity to pre-pandemic levels.”

About FIRAN TECHNOLOGY GROUP CORPORATION

FTG is a supplier of aerospace and defense electronics products and subsystems to customers worldwide. FTG has two operating units:

FTG Circuits is a manufacturer of highly skilled and reliable printed circuit boards. Our customers are leaders in the aviation, defense and high tech industries. FTG Circuits operates joint ventures in Toronto, Ontario; Chatsworth, California; Fredericksburg, Virginia; and Tianjin, China.

FTG Aerospace manufactures and repairs illuminated cockpit panels, keyboards and subassemblies for aerospace and defense OEMs. FTG Aerospace has operations in Toronto, Ontario, Chatsworth, California, and Tianjin, China.

The company’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 relate to, but are not limited to, FTG’s business, expected financial performance, business prospects and strategy. Forward-looking information generally includes words such as “expect,” “believe,” “expect,” “plan,” or similar words that imply future results. Such statements are based on our management’s current expectations and inherently involve a number of known and unknown risks and uncertainties, including economic factors and our industry generally. The above list is not exhaustive of all possible factors. Such forward-looking statements are not guarantees of future performance, and actual events or results may differ materially from those expressed or implied by our forward-looking statements. I have. Readers are cautioned to consider these and other factors carefully in making decisions regarding us and not to rely undue on forward-looking statements. Except as required by law, FTG disclaims any intention or obligation to update or revise such forward-looking statements, whether as a result of new information, future events or otherwise.

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Bradley C. Bourne, President and CEO
Phone: (416) 299-4000 x 314
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bradbourne@ftgcorp.com

James Crichton, Vice President and CFO
Phone: (416) 299-4000×264
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jamiecrichton@ftgcorp.com

For additional information, please visit our website at www.ftgcorp.com.