The contract has a four-year term and expires in
With the ratification of this agreement, all employees will return to work immediately, ending a six-week work stoppage. The work stoppage negatively impacted customers, employees and investors. For customers, we will work diligently to get our deliveries back on track as quickly as possible, using all the resources we have available at FTG. For employees, we know the work stoppage hurt them financially and the final settlement included a signing bonus to partially mitigate the lost wages. And for investors, the work stoppage will negatively impact our first quarter through reduced revenues of
“I believe the contract is well balanced with improved wages and benefits for the employees that are the direct result of the commitment by everyone to improve productivity through an ongoing focus on operational excellence”, stated
ABOUT
FTG is an aerospace and defence electronics product and subsystem supplier to customers around the globe. FTG has two operating units:
The Corporation's shares are traded on the
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:
Tel: (416) 299-4000 x314
bradbourne@ftgcorp.com
Tel: (416) 299-4000 x264
jamiecrichton@ftgcorp.com
Additional information can be found at the Corporation’s website www.ftgcorp.com
Source:
2024 GlobeNewswire, Inc., source