Mar 20 2014
For the second time, Firan Technology Group Corporation, a leader in aerospace cockpit control devices, has been selected by an AVIC subsidiary to supply cockpit control panel assemblies (CPA). FTG announced today, that it has signed a Letter of Intent (LOI) with LIEOE, based in Luoyang, China, for the supply of Heads Up Display (HUD) CPA's for the C919 aircraft program.
Under the terms of the LOI, FTG will design, develop, manufacture and supply the HUD CPA. The design, development and initial manufacturing will be completed at FTG Aerospace - Toronto. Volume manufacturing will be performed at FTG's facility in Tianjin, China. The LOI anticipates a minimum Purchase Order quantity of 1,440 production ship sets and related spares. FTG expects to complete the design and delivery of ground test and qualification equipment in 2014.
Initial funding has been received from LIEOE and the program is now officially underway. Further discussions and negotiations are in progress with a view to concluding a Master Agreement between LIEOE and FTG. This Master Agreement will include In Service Support (ISS) for the delivered products.
"With more than a dozen cockpit control panel assemblies now on the C919, this marks the continuation of our strategic step for FTG in the rapidly emerging commercial airplane market in China," said Brad Bourne, President and CEO, FTG Corporation. "We look forward to supporting and providing LIEOE with the most trusted and proven HUD CPA solution for the COMAC C919."
"FTG's value proposition is clear with proven performance on a variety of air transport platforms. This represents a tremendous and challenging opportunity for FTG to increase our offering on a dynamic program in an emerging market," said Peter Dimopoulos, Vice President, Business Development, FTG Corporation.
LIEOE is a high technology Chinese subsidiary of AVIC Avionics Corporation and has a great technical foundation and rich development experience in Heads Up Display Systems, core task systems and optical-electro detect systems. LIEOE is the supplier of choice for HUD systems to the Chinese aviation industry.
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 and a joint venture in Tianjin, China.
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.
Source: http://www.ftgcorp.com/