- Firan Technology (FTG) has received C$7M in funding from the Government of Canada
- The funding, through the Aerospace Regional Recovery Initiative, is meant to facilitate the industry’s recovery and growth following the COVID pandemic
- The company will use the capital to invest in automation equipment, waste reduction and energy conservation, improved cybersecurity, new product development, and the creation of almost 300 jobs
- Firan Technology Group is an Ontario-based supplier of electronics and subsystems to the global aerospace and defence markets
- Firan Technology (FTG) is up by 0.5 per cent trading at $2.01 per share
Firan Technology (FTG) has received C$7M in funding from the Government of Canada.
The Federal Economic Development Agency for Southern Ontario issued the funding through the Aerospace Regional Recovery Initiative for Firan to enhance productivity and expand its offerings.
The company will use the funding to invest in automation equipment, waste reduction and energy conservation, improved cybersecurity, new product development, and the creation of almost 300 jobs.
It believes the capital will enhance global sales and cement its foothold in the industry as it recovers from the COVID pandemic.
“FTG has a proven track record of growth resulting from investments in people, processes and tools,” stated Brad Bourne, Firan’s President and CEO. “The pandemic made for challenging times in the aerospace sector, but the recovery has started. With the help of the ARRI funding, FTG will accelerate its investment in its Canadian businesses to get back on a strong growth trajectory to the benefit of all stakeholders.”
Firan Technology Group is an Ontario-based supplier of electronics and subsystems to the global aerospace and defence markets. It maintains operations in Canada, China and the U.S.
Firan Technology (FTG) is up by 0.5 per cent trading at $2.01 per share as of 2:53 pm EST.
