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Firan Technology Group Corporation receives Ontario government support for advanced manufacturing

June 30, 2010 Written by 
Firan Technology Group Corporation announced that it has entered into an agreement with the Province of Ontario for financial support for investments in advanced technology products and processes in its FTG Circuits - Toronto business.
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Under the agreement, FTG will receive up to $5.1M in loans from the Province. FTG is committing to invest a total of $17M in R&D and capital over a 5 year period and to retain and create jobs in Ontario. The funds are specifically for use in the FTG Circuits - Toronto business.

FTG intends to invest the funds in the following aspects of the business:

- Product development - FTG will invest to increase its offering in advanced material, buried passive, high density interconnect, high speed, high reliability and thermal management printed circuit board technologies

- Process development - FTG will improve manufacturing processes in all aspects of printed circuit board production including inner layers, outer layers, scaling, plating and soldermask

- Waste reduction - FTG is committed to reducing water consumption and power consumption across its
business and will invest in technologies and systems to achieve this

- Systems development - FTG will invest in the necessary systems to support advanced manufacturing in high mix, low volume applications.

"FTG's focus on the aerospace market demands innovative, high technology solutions and the support of the Ontario Government will allow us to continue to invest for the benefit of our customers, our employees, our shareholders and the Ontario economy", stated Mr. Brad Bourne, President and CEO, FTG Corporation. He added, "We greatly appreciate the support of the Ontario Government, particularly in these challenging times where we face a strong Canadian dollar, and a changing economy".

www.ftgcorp.com

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