FTG Aerospace – Toronto Hourly Employees Begin Strike Action
December 12 2023 - 8:50AM
Firan Technology Group Corporation (TSX:FTG) announced that the
Corporation’s hourly employees at FTG Aerospace – Toronto,
represented by Local 303 of Unifor Canada, have commenced a strike
as of 12:00 am today, following rejection of a tentative agreement
reached earlier between the Corporation and the hourly employees’
representatives. The previous contract between the Corporation and
the hourly employees of FTG Aerospace – Toronto expired in August
2023. There are approximately 67 hourly employees impacted by this
strike, out of FTG’s total headcount of 690 employees. No other
sites are impacted by this action.
“FTG will act in the best interests of its
customers, shareholders, employees and other stakeholders to
mitigate the impact of this strike and return to normal operations
as quickly as possible.”, stated Brad Bourne, President and CEO,
FTG Corporation.
ABOUT FIRAN TECHNOLOGY GROUP CORPORATION
FTG is an aerospace and defence 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, defence, 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 manufactures and repairs
illuminated cockpit panels, keyboards and sub-assemblies for
original equipment manufacturers of aerospace and defence
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.
For further information please
contact:
Bradley C. Bourne, President and
CEO
Firan
Technology Group CorporationTel: (416) 299-4000
x314bradbourne@ftgcorp.com
Jamie Crichton, Vice President and
CFO
Firan
Technology Group CorporationTel: (416) 299-4000
x264jamiecrichton@ftgcorp.com
Additional information can be found at the
Corporation’s website www.ftgcorp.com
Firan Technology (TSX:FTG)
Historical Stock Chart
From May 2024 to Jun 2024
Firan Technology (TSX:FTG)
Historical Stock Chart
From Jun 2023 to Jun 2024