TORONTO – Firan Technology Group announced that a new contract with its represented employees at its Aerospace – Toronto facility has been negotiated and ratified.

The contract has a four-year term and expires in August 2027. The contract recognizes the strong demand at that site, the commitment to continuous improvement by everyone, as well as the external environment impacting the corporation and its employees, FTG said.

With the ratification of this agreement, all employees will return to work immediately, ending a six-week work stoppage. The company said the work stoppage will negatively impact its first quarter through reduced revenues of $3 million to $4 million and the corresponding profits.

"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," said Brad Bourne, president and CEO, FTG. "We are seeing strong demand at the Aerospace - Toronto site and we can now focus our efforts to ramp up production to support our customers’ needs."

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