TORONTO, Jan.  22, 2025  (GLOBE NEWSWIRE) -- Firan Technology Group Corporation (TSX: FTG) (OTCQX: FTGFF) (“FTG”) today announced that De Havilland Aircraft of Canada Ltd. has selected FTG to provide updated cockpit control assemblies for the new De Havilland Canadair 515 (DHC-515) aerial firefighting aircraft.

Deliveries will commence in 2025 and will support De Havilland Canada’s program to produce the DHC-515 aircraft.

The design, development, and production of these critical assemblies will be conducted at FTG’s Aerospace Toronto facility.

“We are incredibly proud to be selected by De Havilland Canada for this important program,” said Peter Dimopoulos, Vice President, Business Development at FTG. “This contract highlights FTG’s ability to provide high-quality, Canadian-made components for a critical Canadian-built aircraft. We are thrilled to contribute to this important project and support the growth of the aerospace industry in Canada.”

The DHC-515 is a next-generation amphibious aircraft designed specifically for aerial firefighting operations. FTG’s control panel assemblies (CPA) play a crucial role as they provide the interface for pilots to control various aspects of flight.

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, Minnetonka, Minnesota, Haverhill, Massachusetts and a joint venture in Tianjin, China.

FTG Aerospace designs, certifies, manufactures and provides in-service support for illuminated cockpit products and electronic assemblies for original equipment manufacturers and operators of aerospace and defense equipment. FTG Aerospace has operations in Toronto, Ontario, Calgary, Alberta, Chatsworth, California and Tianjin, China.

The Corporation’s shares are traded on the Toronto Stock Exchange under the symbol FTG, and on the OTCQX Exchange under the symbol FTGFF.

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 
[email protected]

Jamie Crichton, Vice President and CFO
Firan Technology Group Corporation
 Tel: (416) 299-4000 x264 
[email protected]

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