Toronto tech company
Firan Technology Group has committed to investing $17 million in a research and development project that will create 30 new jobs over the next five years. According to a
company announcement, the project will focus on expanding its production of circuit boards for aircraft -- "advanced material, buried passive, high density interconnect, high speed, high reliability and thermal management printed circuit board technologies."
The provincial government's Economic Development ministry has committed to providing up to $5.1 million in loans to the project. A
government announcement notes that there is a $1.8 billion market for such circuit boards globally, and says of Firan's technology, "These new boards will provide airplanes with smaller, lighter
electronics helping to enable more efficient and safer air travel, and
contributing to Ontario's role as a leader in the aerospace industry."
Firan President and CEO Brad Bourne says, "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."
In addition to creating 30 new jobs, the project is expected to support the ongoing employment of 50 other, according to the provincial government.
Writer: Edward Keenan
Sources: Bradley C. Bourne, President and CEO, Firan Technology Group Corporation; Office of the Minister of Economic Development and Trade
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