Firan Technology Group Corporation ("FTG") (TSX:FTG), a leader in aerospace and defense electronics, announced today that they have signed a supply contract with SAVIC for the design, development, certification support and long-term production of various Control Panel Assemblies for the Display System on the new COMAC C919 aircraft. This contract replaces the Letter-of-Intent between FTG and SAVIC first announced in 2012.
Under the terms of the contract, FTG will design, develop, manufacture and supply the Display Suite control panel assemblies. The design, development and initial manufacturing will be completed at FTG Aerospace – Toronto. SAVIC and FTG have agreed to share the cost of the design and development of the control panel products. The control panel assemblies incorporate advanced electronics and software that are integral to the overall Display Suite to be provided by SAVIC for the C919 aircraft. Volume manufacturing will be performed at FTG's facility in Tianjin, China. The contract covers a minimum of 1,440 production ship sets consisting of 9 control panel assemblies per set.
The COMAC C919 program is gearing up as various design reviews are completed, ground test hardware is delivered and the first aircraft is being assembled, all leading to the first flight of the aircraft.
"This represents a tremendous opportunity for FTG to increase our value proposition in an important emerging market. FTG made a commitment to the China market in 2010 by establishing FTG Aerospace – Tianjin and we are pleased to see such significant results so soon," said Brad Bourne, President and CEO of FTG.
"We are very excited to be a part of this strategic aircraft program with SAVIC," said Peter Dimopoulos, Vice President of Business Development at FTG. "Our focus on high quality, high reliability and best value offering, along with our commitment to China, were key factors in SAVIC's vendor selection process."
Source: Firan Technology Group Corporation
Date: Jan 30, 2015