Firan Technology Group Corporation (“FTG”) Announces Transport Canada Has Approved FTG Aerospace Toronto as an Approved Maintenance Organization (AMO)

TORONTO, July 22, 2020 (GLOBE NEWSWIRE) -- Firan Technology Group Corporation (TSX:FTG), a leading provider of electronic products and avionic sub-systems for the aerospace and defense markets, has received approval from Transport Canada to be an Approved Maintenance Organization (AMO).  Under this approval, FTG Aerospace Toronto is approved for the maintenance of aeronautical products, specifically for instruments or display devices.  With this approval, FTG can now maintain or repair its display products and provide airworthiness tags for repaired products. 

“This is an important accomplishment for FTG as it enables us to now fully support our customers through the complete lifecycle of our products,” stated Brad Bourne, President and CEO, FTG Corporation.  “We have a strategy to increase our activity in the large aftermarket segment of the Aerospace industry and this certification is a key milestone in accomplishing our objective,” he added.

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, 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                                                                      

Firan Technology Group Corporation

Tel:  (416) 299-4000 x314

Jamie Crichton, Vice President and CFO                                            

Firan Technology Group Corporation

Tel:  (416) 299-4000 x264

Additional information can be found at the Corporation’s website