Market Overview

Firan Technology Group Corporation (FTG) Announces Corporate Organizational Changes

TORONTO, ONTARIO--(Marketwire - Dec. 4, 2012) - Firan Technology Group Corporation (TSX:FTG) announced today that Mr. Claude Bougie has been appointed as President of FTG Aerospace Tianjin. Claude brings with him a wealth of experience in the Aerospace industry and will use this knowledge and experience to ensure the rapid growth of FTG's business in Tianjin. Mr. Kaiyan Gu will continue as General Manager at FTG Aerospace, Tianjin and will report directly to Claude.

Mr. Randy Drake has been appointed as Director of Operational Excellence. In this role, Randy will be responsible for accelerating Operational Excellence initiatives across the Company. FTG is committed to Operational Excellence and this role will ensure a consistent, proactive approach towards implementing best practices across the Company.

Mr. Eugene Horak will assume additional responsibilities for contracts across the Company. As FTG's business grows, there is a need to negotiate larger, more complex, longer term contracts and Eugene's experience will ensure a professional, customer oriented management of the process. He will maintain his responsibilities for Supply Chain strategy at FTG.

Ms. Amelia Zheng has been hired as Contracts Administrator. Majoring in International Business Law, Amelia achieved a Bachelor of Law Degree from China, and continued on to receive her Master of Law Degree from the University of Montreal. In addition to her academic background, Amelia is fluent in English, French and Chinese thus making her exceptionally qualified to assist in negotiating contracts for FTG worldwide. Amelia will report to Eugene Horak.

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 and Chatsworth, California.

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 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.

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

FOR FURTHER INFORMATION PLEASE CONTACT:
Firan Technology Group Corporation
Bradley C. Bourne
President and CEO
(416) 299-4000 x 314
bradbourne@ftgcorp.com


Firan Technology Group Corporation
Joseph R. Ricci
Vice President and CFO
(416) 299-4000 x 309
joericci@ftgcorp.com
www.ftgcorp.com

 

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