TORONTO, June 29, 2026 (GLOBE NEWSWIRE) -- Firan Technology Group Corporation (TSX: FTG) (OTCQX: FTGFF) today announced the opening of its Aerospace facility in Hyderabad, India.

FTG held its Grand Opening of FTG Aerospace Hyderabad, culminating three years of effort to establish an operation in India. The facility is part of FTG's Aerospace business, will have design and manufacturing capabilities, and will be a supplier of cockpit and avionics products.

The rationale for setting up an operation in India is multidimensional and includes:

• Supporting western country demands for cockpit and avionics products for both commercial aerospace and defence applications.
• Better enabling FTG to access the growing Indian aerospace and defence market while aligning with Prime Minister Modi's "Make in India" policy.
• New low-cost manufacturing capacity complementing FTG's current operations in China.
• Opening new global market opportunities for FTG while reducing exposure to restrictive trade policies from existing markets.

CEO Commentary

"This is another exciting milestone on FTG's path to becoming a truly global aerospace and defence electronics company," stated Brad Bourne, President and CEO of FTG. "We believe this facility will become an important operation for FTG, and we look forward to penetrating the Indian aerospace and defence market while supporting Prime Minister Modi's 'Make in India' policy. There is still lots of work ahead, including continuing to add and train staff, obtaining industry certifications and customer approvals, and ramping production. We are excited about our future in India, and we can't wait to make it another successful part of FTG."

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 manufactures high-technology, high-reliability printed circuit boards. Its customers are leaders in the aviation and defence 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 designs, certifies, manufactures, and provides in-service support for illuminated cockpit products, electronic assemblies, and avionics products for original equipment manufacturers and operators of aerospace and defence equipment. FTG Aerospace has operations in Toronto, Ontario; Calgary, Alberta; Chatsworth, California; Tianjin, China; and Hyderabad, India.

The Corporation's shares are traded on the Toronto Stock Exchange under the symbol FTG and on the OTCQX Exchange under the symbol FTGFF.

Forward-Looking Statements

This news release contains certain forward-looking statements related 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 expressions suggesting future outcomes. These statements are based on current expectations and involve numerous known and unknown risks and uncertainties. Actual events and results could differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on these forward-looking statements. Except as required by law, FTG assumes no obligation to update or revise any forward-looking statements.

For Further Information

• Bradley C. Bourne, President and CEO
  Tel: (416) 299-4000 ext. 314
  bradbourne@ftgcorp.com
• Drew Knight, Executive Vice President, CFO, and Corporate Secretary
  Tel: (416) 299-4000 ext. 264
  drewknight@ftgcorp.com

Head Office:
250 Finchdene Square
Toronto, Ontario M1X 1A5

Additional information can be found at the Corporation's website: www.ftgcorp.com.

 

TORONTO — Following Canada’s selection as the host country for the new Defence, Security and Resilience Bank (DSRB), Premier Doug Ford was joined by leaders from a wide variety of sectors, including finance, manufacturing, research, defence, academia and more, to continue making the case for Toronto’s selection as the bank’s headquarters. Attendees in support of Toronto’s bid included representatives from across Ontario, reflecting the benefits that Toronto’s selection would bring to communities across the province. Mayors, councillors, provincial cabinet ministers and federal members of Parliament, including members of the federal Liberal caucus, were also in attendance.

“As a stable and trustworthy partner for our allies in an increasingly uncertain world, a successful DSRB has the potential to turn Canada into a global capital for defence financing and manufacturing, creating historic opportunities for Canadian workers, strengthening our economy and expanding our influence on the international stage for decades to come,” said Premier Ford. “Team Ontario is united behind Toronto’s bid to host the bank because Toronto is the only city in Canada with the resources, workforce and international connections to make the bank an immediate success and fully realize the benefits it will bring to all of Ontario and Canada.”

As a global financial services hub, Toronto’s unmatched strengths and the government’s readiness to support the DSRB’s long-term success and global mandate make it the clear choice for its Canadian location. Ontario’s plan to support the bank’s immediate success includes:

• Helping establish both an interim and long-term headquarters for the bank, with a potential interim headquarters already identified through the province’s existing property portfolio at 200 Front Street West
• Leveraging the $4 billion Protect Ontario Account Investment Fund to attract investment capital to Canada and Ontario’s defence industry
• Intending to issue a minimum $500 million Resilience Bond to fund defence projects, which would be the first of its kind in Canada. This would include the DSRB if it were to be located in Ontario, through an Ontario Sustainable Bond Framework

“Toronto offers the financial expertise, institutional capacity and global connectivity required for a multilateral organization like the Defence, Security and Resilience Bank,” said Peter Bethlenfalvy, Minister of Finance. “Selecting Toronto as the headquarters would ensure the bank is positioned to deliver on its mission from the outset while strengthening Canada’s role among allies.”

Toronto is uniquely positioned to host the bank’s headquarters and is backed by strong, coordinated support across economic sectors and all levels of government, highlighting several key advantages:

• A global financial hub: Toronto is home to Canada’s largest financial sector, including all major banks, bond-rating agencies and many leading international firms
• A world-class workforce: Toronto offers a highly skilled workforce across finance, security and advanced research, backed by world-class colleges, universities and research institutes, enabling quick staffing of the bank and supporting its mission without delay
• Industry expertise: The city has a strong and growing innovation ecosystem spanning from expertise in artificial intelligence, quantum and cybersecurity, as well as aerospace and manufacturing
• Global connectivity: Toronto also provides world-class connectivity, including multiple international airports with hundreds of destinations around the world, and over 100 consular offices located in the Greater Toronto Area.

“Toronto brings together the talent, expertise, international market access and industrial capacity required to fulfil the Defence, Security and Resilience Bank’s global mandate,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “As NATO countries around the world increase their defence spending, Toronto’s selection will serve to elevate Canada’s role as a trusted partner in advancing global security, while creating new opportunities for our economy and workers.”

The DSRB is expected to create 3,500 direct, good-paying jobs and thousands more secondary jobs, benefitting not just Toronto but the entire province and country. As the country’s leading centre of finance, defence manufacturing, research and tech, along with transportation links to the rest of the world unmatched anywhere else in Canada, Toronto is Canada’s strongest and most credible choice to host the DSRB.

Quick Facts

• The DSRB is a new multilateral institution focused on financing defence production, supply chain resilience and security projects.
• The DSRB was created to address financing challenges facing government and industry in the defence sector as countries around the world increase their spending on securing their national borders and meeting international geopolitical commitments.
• As Canada’s manufacturing powerhouse, Toronto accounts for nearly 50 per cent of the nation’s manufacturing GDP, employment, exports and sales.
• Ontario accounts for approximately 36 per cent of Canada’s defence-sector employment, the largest share of any province.
• Over the last 10 years, Toronto’s financial services sectors grew at the fifth highest rate in the world and the highest rate in North America, according to the Conference Board of Canada.
• Ontario is a national hub for defence manufacturing and innovation with 300 companies generating over $5 billion in annual revenue.
• Ontario is producing over 94,000 highly skilled STEM graduates per year who are ready to support and drive the DSRB.
  

Today marks the most significant milestone in NordSpace's history. We have been awarded $8.3M in Phase 1 grant funding and selected as a winner of Canada’s Department of National Defence's Launch the North IDEaS challenge, toward the development of our Tundra orbital launch vehicle.

Launch the North represents Canada’s most significant investment in sovereign space launch. As a part of the government’s $182.6M investment in sovereign space launch, DND and CAF aim to secure Canada's strategic autonomy in space, reduce dependence on foreign launch providers, and position Canada as a global leader in commercial and defence-oriented space launch. Canada's moment has arrived.

What distinguishes NordSpace is the depth of its vertical integration. We design and manufacture our own engines and vehicles, develop and operate our own spaceport, build and fly our own satellites, and invest in the broader Canadian space ecosystem. This end-to-end architecture stands unique in Canada, inspired by industry leaders such as SpaceX and Rocket Lab, and constitutes the foundational infrastructure upon which a durable, truly sovereign Canadian space industry can be built.

At the centre of our architecture is Tundra, powered by our in-house designed and manufactured 3D printed Hadfield engines and capable of delivering 500+ kg to LEO and 350+ kg to SSO. In its Tundra+ configuration, this grows to 1,100 kg to LEO and 850 kg to SSO, with a direct scaling path to our Titan medium-lift vehicle targeting 5,000+ kg to LEO. A proven modular 3D printed engine architecture reduces development time and risk while ensuring Canada's sovereign launch capability grows in step with national defence, commercial, and allied demand over the coming decade.

Our Atlantic Spaceport Complex (ASX) in Newfoundland and Labrador is the only purpose-built commercial orbital launch facility in Canada and one of the most strategically advantaged launch sites in the western hemisphere. The ASX supports launch inclinations of 44 to 105 degrees over the Atlantic Ocean, the widest range available from any Canadian site. It also offers the largest safety distances of any spaceport in Canada and highest approved launch cadence, lending to our medium-lift future. The ASX received its landmark environmental approval from the Government of Newfoundland and Labrador and is already under rapid construction with its first launch planned this spring of our Taiga rocket.

This award will ultimately lead to the creation of 134 direct jobs by 2028, growing to 650+ by 2032, with 1,600+ indirect and induced jobs across Canada's industrial base as we scale to medium-lift. We rely on a wide ecosystem of Canadian partners including Magellan Aerospace Limited, Kongsberg Geospatial, C-CORE, and Indigenous-led suppliers across the country.

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Canada's Multi-role Flight Service with Bombardier's Global 6500 Aircraft. Final livery on the aircraft may be different.

• Government of Canada selects made-in-Canada jets to enhance its multi-mission air transport capability including aeromedical evacuations, disaster relief, humanitarian aid and national security operations
• Bombardier Global 6500 aircraft are assembled in the Greater Toronto Area, and completed in Greater Montreal. This aircraft leverages Canada’s world-class aerospace supply chain
• Decision to purchase Bombardier aircraft underscores Canada’s strategic and sovereign capabilities in aerospace and defence

December 12, 2025 - Bombardier is proud to announce the Government of Canada has purchased six Global 6500 aircraft to perform worldwide utility flights and support missions such as aeromedical evacuations, disaster relief, humanitarian aid and national security operations. Representatives from Bombardier and the federal government celebrated this agreement today at Bombardier’s Global Aircraft Assembly Centre in the Greater Toronto Area, where the Global 6500 aircraft is assembled. Interior completion work on these aircraft will be performed in Greater Montreal. 

This order is valued for Bombardier at approximately $400 million U.S., based on the current list price for the Global 6500 aircraft and the cost of military modifications. 

The Royal Canadian Air Force, which has operated Bombardier Challenger aircraft since 1983, will benefit from the increased range and capability of the Global 6500 aircraft. Delivery of the first aircraft is expected by summer 2027. 

“The Global 6500 aircraft is a world-class, made-in-Canada product with the versatility to perform multiple missions, making it the go-to solution for governments around the world,” said Éric Martel, President and Chief Executive Officer, Bombardier. “Today, the more than 12,000 Canadians who work at Bombardier can take great pride in knowing that this aircraft will now serve their country.” 

Friday’s event was attended by the Honourable Stephen Fuhr, Secretary of State for Defence Procurement. “The award of this contract to purchase the Global 6500 under the Defence Investment Agency is a turning point in how Canada equips its military,” Minister Fuhr said. “By streamlining processes and cutting red tape, the Defence Investment Agency is accelerating the delivery of the versatile capabilities the Royal Canadian Air Force needs. Canada has a world-class aerospace industry, and this investment will harness that strength to create good-paying jobs, drive innovation, and bolster our security.” 

Also in attendance were the Honourable Rechie Valdez, Minister of Women and Gender Equality and Member of Parliament for Mississauga-Streetsville, as well as provincial officials and representatives from the Department of National Defence and the Royal Canadian Air Force. 

The Bombardier Global 5500 and Global 6500 aircraft, as well as the Global 8000* aircraft, which recently entered service as the world’s fastest business jet, are manufactured at Bombardier’s state-of-the-art Global Aircraft Assembly Centre. This facility, inaugurated in 2024, represents an investment of over $670 million CAD from Bombardier, employs more than 2,000 highly skilled workers, and is a jewel of advanced, high-precision aircraft manufacturing. 

Bombardier is proud to draw upon Canada’s world class aerospace supply chain. The Global 6500 aircraft benefits from the contribution of more than 60 Canadian suppliers. A PwC report commissioned by Bombardier calculated that the total economic footprint (direct, indirect, and induced impacts) supported in Canada from Bombardier’s Global 6500 manufacturing activities in 2022 was $518.3 million in GDP, 3,747 full-time equivalent (FTE) jobs, and $309.1 million in labour income. 

Bombardier has published an Environment Product Declaration for the Global 6500 aircraft, which is a detailed communication of the environmental performance and footprint of the aircraft from a full life-cycle perspective.** Thousands of parts of the aircraft have been analyzed for their environmental impact, offering transparency and benchmarks from which improvements can be made. 

Bombardier business jets are recognized around the world for their performance and reliability, and are ideal for defense missions including Intelligence, Surveillance and Reconnaissance (ISR), Airborne Early Warning & Control (AEW&C), border and maritime patrol, multi-role, head of state transport, medevac, urgent humanitarian assistance and more. The Global 6500 aircraft in particular is the go-to choice for governments around the world looking to modernize their airborne defense capabilities. 

Bombardier is known for its flexible, collaborative approach, building long-term relationships with governments and militaries, and joining forces with the world’s most advanced mission system providers to provide proven, reliable and advanced defence solutions.  

About Bombardier 
At Bombardier (BBD-B.TO), we design, build, modify and maintain the world’s best-performing aircraft for the world’s most discerning people and businesses, governments and militaries. That means not simply exceeding standards, but understanding customers well enough to anticipate their unspoken needs.  

For them, we are committed to pioneering the future of aviation — innovating to make flying more reliable, efficient and sustainable. And we are passionate about delivering unrivaled craftsmanship and care, giving our customers greater confidence and the elevated experience they deserve and expect. Because people who shape the world will always need the most productive and responsible ways to move through it.  

Bombardier customers operate a fleet of more than 5,200 aircraft, supported by a vast network of Bombardier team members worldwide and 10 service facilities across six countries. Bombardier’s performance-leading jets are proudly manufactured in aerostructure, assembly and completion facilities in Canada, the United States and Mexico. In 2024, Bombardier was honoured with the prestigious “Red Dot: Best of the Best” award for Brands and Communication Design. 

Click here for original press release

This press release was prepared and distributed by Bombardier.

• Bombardier had a total contribution (direct, indirect and induced) of $7.4 billion to Canada’s GDP in 2024 and supported close to 50,000 jobs across the country
• In 2024, the company contributed over $1.2 billion in revenues to provincial and federal governments, including taxes on income, products and production
• In Quebec, Bombardier directly supported more than 31% of the aerospace sector’s employment, making it one of the largest employers in the province's manufacturing industry

A study by PwC Canada provides an update on the substantial economic and social contributions of Bombardier’s manufacturing operations in Canada. Indicators such as the GDP, exports and supported jobs presented Bombardier’s significant role in the Canadian economy.   

The report positions Bombardier as a key driver of Canada’s aerospace industry with $7.4 billion in contribution to the country’s GDP in 2024, and output value representing approximately 1% of total Canadian exports. In that same year, Bombardier’s aircraft exports made up 5% of Quebec’s total export value. Bombardier’s activities also contributed considerably to the provincial and federal economies in 2024, bringing over $1.2 billion in taxes on income, products and production.   

“Bombardier continues to be a key driver of the Canadian economy through its nearly 12,200 employees and over 1,550 suppliers across the country”, said Éric Martel, President and CEO, Bombardier. “Our work not only fuels economic growth—it also plays a vital role in reinforcing Canada’s sovereignty through innovation, homegrown expertise in aircraft production and maintenance, and critical contributions to the nation’s defence industrial strategy.’’ 

Figures also show that Bombardier plays an important role in Canada's economic development, supporting nearly 50,000 jobs across the country — including direct, indirect, and induced employment — that depend on its activities. In Quebec alone, Bombardier supported nearly 10,000 direct jobs, which represent more than 31% of all the jobs in the aerospace sector, making it one of the largest employers in the province’s manufacturing industry. In addition, Bombardier’s active presence in Ontario is highlighted with its state-of-the-art manufacturing centre at Pearson airport, inaugurated in 2024, where close to 2,200 team members complete high-precision assembly work for the class-leading Bombardier Global family of aircraft.  

Bombardier’s performance in 2024 reflects the strength of the company, with 146 business aircraft delivered and $11.5 billion in revenue. This success was made possible by a robust network of more than 1,550 Canadian suppliers from coast to coast, demonstrating that the company is at the heart of a thriving national ecosystem.  

Driven by a favourable market environment and sustained demand from clients, including governments and militaries, Bombardier is projecting revenues greater than $12.2 billion1 in 2025, in line with its guidance published earlier this year. According to the PwC report, Bombardier’s projections suggest that it is expected to contribute $39.6 billion1 to Canada’s GDP between 2025 and 2029, and to provide an annual average of over 51,500 direct, indirect and induced1 full-time jobs across the country. On the research & development side, Bombardier's planned investments, including capital investments and the development and testing of new prototypes, are projected to support $3.2 billion1 in GDP contributions between 2024 and 2029.

Click here to Download the Original Press Release
Click here to view the press release on Bombardier's Website

 

Founded in 1997 by Stephane Durand and Taif Rahman, Elisen has built a strong reputation for its work on complex engineering projects spanning commercial, business and rotary aircraft modifications, defence projects and sustainable aviation development. Elisen’s projects include support and development work on the Airbus A220, Bell helicopters and Bombardier, Gulfstream and Lear special mission aircraft, among others. Mr. Durand and Mr. Rahman will continue to lead Elisen following the closing of the transaction.

“Elisen is a leading engineering firm located at the core of Montreal’s aerospace community. Acquiring Elisen will position us to grow our defence and specialized MRO capabilities by adding valuable expertise and industry relationships,” said Colin Copp, President and Chief Executive Officer, Chorus. “We are delighted that Stephane and Taif will continue to lead Elisen and look forward to welcoming the entire Elisen team.”

“We have had expressions of interest from several companies over the years, but none provides the alignment of culture, values and strategic vision that Chorus offers,” stated Elisen Co-President, Mr. Rahman.

“We are excited to work with the Chorus team to pursue a broader set of opportunities together,” added Elisen Co-President, Mr. Durand.

The transaction is expected to close prior to the end of this year, conditional upon the completion of certain regulatory notifications and the satisfaction of other customary conditions to closing.  The transaction will be paid for using available cash and is not expected to have a material impact on Chorus’ consolidated revenue, earnings or balance sheet.

Forward-Looking Information

This news release contains forward-looking information and statements within the meaning of applicable securities laws (collectively, “forward-looking information“). Forward-looking information is identified by the use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “potential”, “predict”, “project”, “will”, “would”, and similar terms and phrases, including negative versions thereof. All information and statements other than statements of historical fact are forward-looking and by their nature, are based on various underlying assumptions and expectations that are subject to known and unknown risks, uncertainties and other factors that may cause actual future results, performance or achievements to differ materially from those indicated in the forward-looking information. As a result, there can be no assurance that the forward-looking information included in this news release will prove to be accurate or correct.

Examples of forward-looking information in this news release include statements and expectations regarding the expected closing of the transaction and the anticipated benefits of the transaction to Chorus. Actual results may differ materially from those anticipated in forward-looking information for a number of reasons including: the failure to satisfy any of the conditions precedent to the closing of the transaction; the impact of the transaction on Elisen’s relationships with employees, customers and suppliers; changes in the aviation industry and general economic conditions; and the risk factors described in Chorus’ public disclosure record available under Chorus’ profile on SEDAR+ at www.sedarplus.ca.

The forward-looking information contained in this news release represents Chorus’ expectations as of the date of this news release (or as of the date they are otherwise stated to be made) and is subject to change after such date. Chorus disclaims any intention or obligation to update or revise any forward-looking information as a result of new information, subsequent events or otherwise, except as required by applicable securities laws. Readers are cautioned that the foregoing factors and risks are not exhaustive.

About Chorus Aviation Inc.

Chorus is a holding company which owns the following principal operating subsidiaries: Jazz Aviation, the largest regional operator in Canada and provider of regional air services under the Air Canada Express brand; Voyageur Aviation, a leading provider of specialty charter, aircraft modifications, parts provisioning and in-service support services; and Cygnet Aviation Academy, an industry leading accredited training academy preparing pilots for direct entry into airlines. Together, Chorus’ subsidiaries provide services that encompass every stage of an aircraft’s lifecycle, including: contract flying, aircraft refurbishment, engineering, modification, repurposing and transition; aircraft and component maintenance, disassembly, and parts provisioning; aircraft acquisition and leasing; and pilot training.

Chorus Class A Variable Voting Shares and Class B Voting Shares trade on the Toronto Stock Exchange under the trading symbol ‘CHR’. Chorus’ 6.00% Convertible Senior Unsecured Debentures due June 30, 2026 and 5.75% Senior Unsecured Debentures due June 30, 2027 trade on the Toronto Stock Exchange under the trading symbols ‘CHR.DB.B’ and ‘CHR.DB.C’ respectively. For further information on Chorus, please visit www.chorusaviation.com.

SOURCE Chorus Aviation Inc.

Click here for original Press Release

Lieutenant-General Jamie Speiser-Blanchet (left) assumed command of the Royal Canadian Air Force (RCAF) from Lieutenant-General Eric Kenny (right) during a change of command ceremony earlier today. General Jennie Carignan, Chief of the Defence Staff (center), presided over the event at the Canada Aviation and Space Museum in Ottawa, Ontario. From left to right — Front row: Lieutenant-General Jamie Speiser-Blanchet, General Jennie Carignan, Chief of the Defence Staff, and Lieutenant-General Eric Kenny. Back row: Chief Warrant Officer Renee J. Hansen and Chief Warrant Officer Bob McCann, pictured during the ceremony.

Lieutenant-General Jamie Speiser-Blanchet assumed command of the Royal Canadian Air Force (RCAF) from Lieutenant-General Eric Kenny, during a change of command ceremony earlier today. General Jennie Carignan, Chief of the Defence Staff, presided over the event held at the Canada Aviation and Space Museum in Ottawa, Ontario.

Lieutenant-General Speiser-Blanchet is the 22nd Commander of the RCAF, as well as the first woman to be the Commander. She has served in many roles throughout her career, including as a CH-146 Griffon tactical helicopter pilot, and numerous staff and command roles, and she deployed in support of United Nations and North Atlantic Treaty Organization (NATO) operations. She most recently served as the Deputy Commander of the RCAF.

The outgoing commander, Lieutenant-General Kenny, served as Commander of the RCAF since 2022, and will retire from the Canadian Armed Forces (CAF) after 36 years of distinguished service.

Quotes

“Lieutenant-General Eric Kenny has served Canada with great distinction – Canadians are deeply grateful for his leadership in our Armed Forces. Lieutenant-General Kenny guided the Royal Canadian Air Force through a volatile world, ensuring the RCAF has the modern capabilities it needs to respond to emerging threats. His efforts have kept Canadians safe and have left the RCAF in a stronger standing. I extend my congratulations to Lieutenant-General Jamie Speiser-Blanchet on assuming command of the RCAF. I look forward to working with her as we further enhance the RCAF – her leadership will be instrumental to these efforts.”

 The Honourable David J. McGuinty, Minister of National Defence

“Today marks a transition and a celebration for the Royal Canadian Air Force (RCAF). I want to sincerely thank Lieutenant-General Eric Kenny for his exceptional leadership during a transformative period for the RCAF. He led the charge on modernization efforts that will shape the future of air and space power, while also overseeing the commemoration of the RCAF Centennial with the pride and recognition is so deeply deserves. I welcome Lieutenant-General Speiser Blanchet as the new Commander and have full confidence in her ability to continue building on this momentum and championing our people.”

General Jennie Carignan, Chief of the Defence Staff

“It has been an honour to serve as Commander of the Royal Canadian Air Force (RCAF). Over the past several years, I’ve had the privilege of witnessing the exceptional dedication, resilience, and professionalism of our aviators and civilian personnel across Canada and around the world. Together, we have advanced key modernization initiatives that will shape the RCAF’s future for years to come, and we proudly commemorated our Centennial — a celebration of the generations who built this institution and the people who continue to serve it with pride. I am deeply grateful for the opportunity to have led such a remarkable team. I know that under Lieutenant-General Speiser-Blanchet’s leadership, the RCAF will continue to thrive and evolve to meet the challenges of tomorrow.”  

Lieutenant-General Eric Kenny, Outgoing Commander, Royal Canadian Air Force

“It is a privilege to assume command of the Royal Canadian Air Force (RCAF) at such a pivotal time in our history, as we reflect on a century of service and prepare for the challenges ahead. Under Lieutenant-General Kenny’s leadership, the RCAF has embraced change, advanced modernization, and proudly celebrated our Centennial. His dedication to operational excellence and commitment to our people have laid a strong foundation for the future. As we move forward, I remain focused on strengthening our culture, supporting our personnel and their families, modernizing our capabilities, and deepening the partnerships that make us stronger — all with the aim of ensuring the RCAF continues to deliver air and space power, now and into the next century.”

Lieutenant-General Jamie Speiser-Blanchet, Incoming Commander, Royal Canadian Air Force

Quick Facts

• The RCAF fulfills several roles within the CAF in support of Government of Canada priorities, including Search and Rescue, the protection of Canadian and North America airspace in partnership with the United States through the North American Aerospace Defence Command, and ongoing support to NATO. 
• The RCAF employs approximately 11,600 Regular Force, 2,000 Reserve Force and 1,400 civilian Defence Team personnel.
• The Commander of the RCAF, who also serves as Chief of the Air Staff, is the senior Air Force officer in the CAF. They act as an advisor to the Chief of the Defence Staff on matters regarding air and space military capabilities to meet Canada’s defence objectives.

Click here for full press release.

“This significant order underscores the competitive advantage Bombardier’s full scope of products and services brings to customers throughout the entire aircraft lifecycle, from design to delivery, then throughout the in-service journey,” said Eric Martel, President and CEO of Bombardier. 

“We build trust each day with each customer thanks to dedicated team members around the world who ensure their consistent satisfaction. Our more than 18,000 Bombardier employees are proud to welcome this new, important customer to our family,” Martel added.

Click here for original article.

 

Canada’s new government has a mandate to build the strongest economy in the G7. While the government negotiates a new economic and security partnership with the United States, we will ensure workers and industry are protected against the unjust and unprovoked American tariffs. Today, the Minister of Finance and National Revenue, the Honourable François-Philippe Champagne, announced a series of measures to protect Canadian steel and aluminum producers and workers.

The government will take these measures to bolster its response:

• First, Canada will adjust its existing counter-tariffs on steel and aluminium products on July 21, to levels consistent with progress that has been made in the broader trading arrangement with the United States.
• Second, effective June 30, the government will begin implementation of reciprocal procurement policies to limit access to federal procurements to suppliers from Canada and from our reliable trading partners that provide reciprocal access to suppliers from Canada through trade agreements. As shared earlier this year, the government is also exploring additional ways to maximize the use of Canadian steel and aluminum in government-funded projects, including in coordination with Canadian provinces and territories.
• Third, the government will protect Canada’s steel industry by establishing new tariff rate quotas of 100 per cent of 2024 levels on imports of steel products from non-free trade agreement partners to stabilize the domestic market and prevent harmful trade diversion as the result of the U.S. actions that are destabilizing markets. These quotas will be applied retroactively and will be reviewed in 30 days.
• Fourth, the government will adopt additional tariff measures over the coming weeks to address risks associated with persistent global overcapacity and unfair trade in the steel and aluminum sectors, which are exacerbated by U.S. actions. Measures will be applied on the basis of “country of melt and pour” for steel and “country of smelt and cast” for aluminum.
• Fifth, the government will immediately create two government-stakeholder task forces, one for steel and one for aluminum. These committees will meet regularly to closely monitor trade and market trends to support government decision making – to better support our industries and workers.
• Finally, the new $10 billion Large Enterprise Tariff Loan facility remains open to applicants. This program supports eligible large businesses that are facing difficulties in accessing traditional sources of market financing by providing access to liquidity. This will help employers that were viable before the recent U.S. trade actions sustain their operations and return to financial resilience as the market stabilizes.
  The government remains prepared to take additional steps as needed and will continue to review the appropriateness of its response, pending developments with U.S. tariffs. The federal government will continue to work closely with provinces and territories to ensure their input and regional interests are reflected in its response to the U.S. tariffs.
  

A remission process is in place to give businesses time to adjust their supply chains, with remissions currently granted under narrow, time-limited conditions to ensure a targeted and balanced approach. Additional individual requests are expected to be approved in the coming days. The Government of Canada will also review its remission framework to favour the use of Canadian steel and aluminum in Canadian-made products.

As the government defines a new economic and security relationship with the United States, it will defend the interests of Canadians, safeguard Canada’s workers and businesses, and build one Canadian economy – the strongest economy in the G7.  

Quotes

“We will take the time we need to negotiate the best deal for Canada, but no longer. In parallel, we are ensuring that workers and industries are protected from the unjust U.S. tariffs. These are the workers and industries who will build one, strong Canadian economy – the strongest economy in the G7.”

- The Rt. Honourable Mark Carney, Prime Minister of Canada 

“Canadian workers and industries can count on us. While we continue to aim for an agreement with the United States, we are taking strong, targeted action to respond to the unjust American tariffs and to protect the integrity of our steel and aluminum sectors.”

- The Honourable François-Philippe Champagne, Minister of Finance and National Revenue


“Canada’s new government was elected to protect and defend Canadian interests. That is what we are doing today with the implementation of these new measures. As we launch a generational effort to build one Canadian economy, Canadian steel and aluminum workers will be at the heart of it.”

- The Honourable Dominic LeBlanc, President of the King’s Privy Council for Canada and Minister responsible for Canada-U.S. Trade, Intergovernmental Affairs and One Canadian Economy


“By adjusting our counter-tariffs and protecting our market, we are standing up for our steel and aluminum producers, their jobs, and our economic sovereignty. We will build a stronger Canadian economy — and it will be made with Canadian steel and aluminum.”

- The Honourable Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions

Click here for original press release

 

GREENVILLE, SC, UNITED STATES, June 16, 2025 /EINPresswire.com/ -- VAC AERO International Inc., a Canadian owned global leader in vacuum heat treating and advanced thermal processing solutions, is proud to announce a $5.8 million investment in Greenville, South Carolina. VAC AERO will establish a new “shop-in-shop” facility within Meyer Tool Inc.’s Greenville location. Together, the two companies bring over 140 years of special process expertise to deliver industry-leading capabilities and results to customers.

This strategic partnership marks VAC AERO’s first operational presence in the United States and underscores its renewed commitment to global expansion. The “shop-in-shop” model enables VAC AERO to operate a fully integrated vacuum heat treating, brazing, and coating operation within Meyer Tool’s advanced manufacturing environment. These services will also be provided to third party customers.

“We are excited to bring our expertise in vacuum heat treating directly into the heart of one of North America’s most respected regions for power generation and aerospace component manufacturing,” said Brent Davis, President and COO of VAC AERO U.S. Inc.

Dan Godin, Executive Vice President of Meyer Tool, “This collaboration is leveraging our combined expertise to offer the customers better control of their Value Stream.”

The new facility will initially feature VAC AERO’s industry-leading vacuum furnaces, with a defined roadmap to introduce advanced coating technologies. The Greenville team brings a combined 185 years of experience in vacuum heat treatment and brazing from day one. This facility will serve as a model for future embedded partnerships, setting a new standard in aerospace, power generation, and high-tech manufacturing.

Vac Aero’s expansion is supported by RBC Global Capital Markets.

About VAC AERO
Founded in 1959, VAC AERO is a leading vacuum furnace manufacturer, vacuum heat treating and coatings service provider to aerospace and high-tech industries worldwide. Recognized by major aerospace prime contractors, VAC AERO is one of the world’s largest subcontractors for landing gear processing. With decades of experience and a commitment to innovation, the company delivers high-performance, cost-effective solutions backed by expert engineering and technical teams.

Pawel Udrycki
VAC AERO International Inc.
+1 365-292-3964
Email us here
Visit us on social media: LinkedIn

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TORONTO, May 15, 2025 (GLOBE NEWSWIRE) -- Firan Technology Group Corporation (TSX: FTG) (OTCQX: FTGFF) (“FTG” or “the Corporation”) today announced that its FLYHT subsidiary has been awarded a Supplemental Type Certificate (STC) by Transport Canada Civil Aviation (TCCA) for the AFIRS Edge+™ product on the Boeing 737NG family of aircraft. This milestone certification clears the path for global deployment of FLYHT’s 5G Wireless Quick Access Recorder (WQAR) on one of the world’s most widely used commercial airframes.

“The Edge+ approval for the Boeing 737NG paves way for global installations of the industry’s first 5G Wireless QAR plug-and-play solution and it is a pivotal achievement for our subsidiary FLYHT and a key part of our plan to create value from the FLYHT acquisition,” said Brad Bourne, President & CEO of FTG. “Edge+ replaces aging 2G and 3G recorders with a true 5G platform, ensuring airlines can continue to leverage real-time aircraft data for safety, operational efficiency, and innovation. We look forward to working closely with our airline partners to integrate Edge+ seamlessly into their fleets.”

The AFIRS Edge+ is a direct, plug-and-play replacement for legacy WQAR systems that are reaching end-of-life as older cellular networks sunset. As the industry’s first 5G-enabled WQAR, the AFIRS Edge+ delivers the bandwidth and reliability required to meet next-generation data demands—from advanced predictive analytics to reducing ACARS costs. With TCCA approval in hand, FTG will expand regulatory compliance to additional jurisdictions in the coming months, enabling broader market access for Edge+ across Boeing 737NG operators worldwide.

ABOUT FIRAN TECHNOLOGY GROUP CORPORATION

FTG is an aerospace and defense 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, defense, 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 designs, certifies, manufactures and provides in-service support for illuminated cockpit products and electronic assemblies for original equipment manufacturers and operators of aerospace and defense equipment. FTG Aerospace has operations in Toronto, Ontario, Calgary, Alberta, Chatsworth, California and Tianjin, China.

The Corporation’s shares are traded on the Toronto Stock Exchange under the symbol FTG, and on the OTCQX Exchange under the symbol FTGFF.

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 Corporation
Tel: (416) 299-4000 x314
bradbourne@ftgcorp.com

Jamie Crichton
Vice President and CFO
Firan Technology Group Corporation
Tel: (416) 299-4000 x264
jamiecrichton@ftgcorp.com

For more information on FTG and its products, visit www.ftgcorp.com.

 

May 15, 2025 - TORONTO — Today, Minister of Finance Peter Bethlenfalvy released the 2025 Ontario Budget: A Plan to Protect Ontario. The 2025 Budget includes measures to protect Ontario workers, businesses and jobs in the face of U.S. tariffs and continued economic uncertainty, with a plan to build an economy that is more resilient and self-reliant. The 2025 Budget furthers the government’s goal to transform Ontario into the most competitive place to invest, create jobs and do business in the G7, while investing even more in health care, education and other critical services.

“Our government is delivering on our mandate to protect Ontario and help workers and businesses weather the storm, while creating the long-term foundations for a strong, resilient and competitive economy,” said Minister Bethlenfalvy. “We’re making the investments in workers, infrastructure and services that will protect Ontario, no matter what.”

Ontario’s finances are in the strongest position they have been in over a decade, reflected by the two credit rating upgrades the province received in 2024. The government’s plan remains prudent and responsible, and Ontario retains a path to balance the budget by 2027–28. The 2025 Budget: A Plan to Protect Ontario moves forward with an ambitious plan to protect Ontario workers, businesses and families by unleashing the economy, getting more shovels in the ground to build infrastructure and putting money back in people’s pockets while delivering better services the people of Ontario can count on.

Highlights include:

• Investing $500 million to create a new Critical Minerals Processing Fund that will help unleash the potential of the province’s mineral sector by attracting investments in critical mineral processing capacity here at home, to help ensure that minerals mined in Ontario will be processed in Ontario, by Ontario workers.
• Supporting new resources and opportunities for Indigenous equity partnerships by tripling the total amount of loan guarantees through the Indigenous Opportunities Financing Program (formerly the Aboriginal Loan Guarantee Program) to $3 billion and expanding eligibility beyond the electricity sector to include eligible projects in energy, pipelines, mining and critical minerals, resource development and other sectors, to help support investments by Indigenous communities in Ontario's growth. The government is also investing $70 million over four years through the Indigenous Participation Fund (formerly known as the Aboriginal Participation Fund) to improve capacity for Indigenous communities and organizations in areas of high mineral activity to participate in regulatory processes related to mineral exploration and mine development. As well as providing $10 million over three years to create new scholarship opportunities for First Nations postsecondary students interested in pursuing careers in resource development.
• Supporting businesses that invest in buildings, machinery and equipment for use in manufacturing or processing in Ontario, by proposing to enhance and expand the Ontario Made Manufacturing Investment Tax Credit. The proposed changes would temporarily increase the tax credit rate for Canadian-controlled private corporations (CCPCs) from 10 per cent to 15 per cent, and temporarily expand eligibility for a 15 per cent non-refundable version of the credit to non-CCPCs, including public corporations, that make eligible investments in the province. These proposed changes would help businesses lower their costs by providing an additional $1.3 billion in support over the next three years.
• Creating the Protecting Ontario Account, a fund of up to $5 billion designed to provide businesses with critical support to protect jobs, transform businesses and grow strategic sectors of the economy that are facing significant tariff-related business disruptions. This fund will provide immediate liquidity relief as an emergency backstop for Ontario businesses that have exhausted available funding.
• Ensuring skilled workers across the province have the training they need to enter rewarding careers in priority sectors by investing an additional $1 billion over the next three years in the Skills Development Fund Capital and Training Streams, bringing the total funding commitment to $2.5 billion. These investments will help organizations deliver better training programs and help upgrade and build new training centres for skilled workers across the province.
• Proposing to make the province’s gasoline and fuel tax cuts permanent. This measure would save households, on average, about $115 per year.
• Helping to fight gridlock by permanently removing tolls from the provincially owned Highway 407 East, which is expected to save daily commuters an estimated $7,200 annually.
• Doubling down on the province’s efforts to build, including the most ambitious capital plan in Ontario’s history with planned investments over the next 10 years totalling over $200 billion, including more than $33 billion in 2025–26. Highlights of the 10-year capital plan include nearly $30 billion to support the planning and construction of highway expansion and rehabilitation projects, approximately $61 billion for public transit, approximately $56 billion in health infrastructure and investing over $30 billion to build more schools and child care spaces.

“Our province has been faced with challenges before, and we have always emerged stronger and more united as a result,” said Minister Bethlenfalvy. “Today, with the 2025 Budget: A Plan to Protect Ontario, we put forward a plan that reflects the government’s vision and the mandate we received from the people of this great province to do whatever is necessary to protect Ontario workers, businesses and communities.”

Quick Facts

• Ontario’s 2024–25 deficit is projected to be $6.0 billion — $3.8 billion lower than the outlook published in the 2024 Budget.
• The government’s plan remains prudent and responsible and retains a path to balance the budget by 2027–28. The government is projecting deficits of $14.6 billion in 2025–26 and $7.8 billion in 2026–27, before returning to a forecasted surplus of $0.2 billion in 2027–28.
• Ontario’s economy proved to be resilient in 2024, with real GDP increasing by 1.5 per cent. Ontario’s real GDP is projected to rise by 0.8 per cent in 2025, 1.0 per cent in 2026, and 1.9 per cent in 2027 and 2028.
• Ontario’s net debt-to-GDP ratio is projected to be 37.9 per cent in 2025–26. Over the medium term, the net debt-to-GDP is forecast to be 38.9 per cent in 2026–27, and 38.6 per cent in 2027–28.

Additional Resources

Read the 2025 Budget: A Plan to Protect Ontario
Read the highlights of the 2025 Budget: A Plan to Protect Ontario
Read the Backgrounder: Economic and Fiscal Overview

May 06, 2025

Office of the Premier

Finance

Labour, Immigration, Training and Skills Development

"The Ontario Home Builders’ Association applauds the Ministry of Labour, Immigration, Training and Skills Development for its transformative increase in Skills Development Funding — a crucial investment in Ontario’s workforce. This funding has empowered OHBA and our members to deliver valuable initiatives that connect skilled trades talent to meaningful careers in residential construction and support long-term workforce retention. These investments are critical to preventing labour shortages, keeping pace with housing demand and protecting Ontario’s economic stability in the face of challenges like American tariffs. This renewed commitment will help ensure our province continues to grow with strength and resilience."

- Scott Andinson
CEO, Ontario Home Builders’ Association

"As vehicles become more advanced, so must the skills of those who service them. Ensuring technicians have access to the latest training is essential to keeping vehicles on the road and Canadians safe. This investment in the Skills Development Fund will help address the growing demand for qualified auto care professionals — especially in underserved rural Ontario communities — strengthening the sector and the people who rely on it every day."

- Jean-François Champagne
President and CEO, AIA Canada

"On behalf of Local 787, I am proud to commend the leadership of Premier Doug Ford and the Hon. David Piccini, Minister of Labour, Immigration, Training and Skills Development, as they announce robust investments to better support the delivery of training initiatives. This funding will strengthen Ontario's workforce against the threat of U.S. protectionism and tariffs. In partnership with Ontario's government, the enhanced Skills Development Fund will help keep workers working who build our economy, strengthen our country and most importantly, protect their families. Together, we will protect Ontario."

- Andrew Tarr
Business Manager, UA Local 787

"We are truly grateful to Premier Ford and the Government of Ontario for this significant $955 million investment in the Skills Development Fund. It’s a powerful statement of support for the people of Ontario — and for the future of our workforce. At Skills Council of Canada, SDF funding has allowed us to create meaningful programs that connect thousands of youth, newcomers and vulnerable communities with hands-on skilled trades training and real career opportunities. These investments are changing lives and we’re proud to be part of that journey."

- Brad Loiselle
CEO, Skills Council of Canada

"This Skills Development Fund funding top-up comes at a crucial time. As detailed in our latest workforce report, as many as 22,000 manufacturing workers retire each year from our Ontario workforce. We need predictable resources to train the workers we need — the millwright, machinists, electricians and technology specialists to implement robotics or predictive maintenance solutions. Today’s announcement will help secure our future. Keep calm and keep training."

- Vincent Caron
Vice President, Ontario Government Relations and Member Advocacy, Canadian Manufacturers and Exporters

"We are entering another period of uncertainty with the impact of new U.S. tariffs and Ontario’s hospitality industry is feeling it. This means fewer events, fewer bookings and fewer hours for hospitality workers. Our members at Unite Here Local 75 are already seeing the signs: shifts are being cut and the future is unclear once again. That’s why we welcome Premier Doug Ford’s commitment to increase funding for the Skills Development Fund. During the pandemic, this funding was a critical support for our members, helping them get the skills they needed to stay connected to work. With this renewed investment, Local 75 members and other hospitality workers will be equipped to meet the challenges ahead and are not left behind."

- Guled Warsame
President, UNITE HERE! Local 75

"Skills Ontario applauds the investment the Ontario government is making into skilled trades to build the provinces future workforce. The Skills Development Fund has proven to be an excellent vehicle to develop and deliver skills solutions to address the challenges we face. The Ford government must be commended for its leadership and commitment to growing the economy and improving our quality of life."

- Ian Howcroft
CEO, Skills Ontario

Bombardier Q1 2025 Revenues, Earnings, Free Cash Flow, All Jump Double-Digits Year-Over-Year, Corporation Provides Strong 2025 Guidance

Bombardier also provided its 2025 guidance, setting objectives that align with its long-term strategy and its continued growth trajectory on profitability and free cash flow(1) generation.

“Bombardier’s strong start to the year demonstrates our great flexibility as well as the rock-solid fundamentals we have built our business on. I am tremendously proud of our team who remained focused on executing at the highest level to deliver double-digit gains year-over-year on revenues, adjusted EBITDA, adjusted EBIT and free cash flow,” said Éric Martel, President and Chief Executive Officer, Bombardier. “Over the last five years, we took proactive and necessary steps to address our balance sheet, our revenue streams, as well as supply chain pressure. The foundations we have laid allow us today not only to face uncertainty with calm and confidence, but also to consider the opportunities that may arise from it. Bombardier today is well positioned to carry forward our momentum.”

Solid Revenue Performance Driven by Increased Deliveries and Sustained Services Growth

Bombardier reported revenues of $1.5 billion for the first quarter of 2025, an impressive increase of 19% year-over-year. This significant jump was driven in part by the delivery of 23 aircraft, 3 more than in the same quarter last year, and by a healthy delivery mix. The company’s Services business continued its steady growth, reaching revenues of $495 million, up $18 million from the first quarter of 2024. Despite global economic uncertainty, order activity remained stable, allowing the company to maintain a competitive advantage within the industry. This resulted in a backlog(5) of $14.2 billion as at March 31, 2025, and a unit book-to-bill(6) of 0.9.

Robust Profitability Results

Bombardier reported an increase in profitability across key metrics for the first quarter of 2025. Aligned with the company’s objective to generate sustainable and profitable growth, adjusted net income(1) for the first quarter of 2025 came in at an impressive $68 million, up 55% from the same quarter in 2024. Adjusted EPS(2) for the quarter rose to $0.61, a significant uptick from the $0.36 recorded for the first quarter of 2024.

The company generated an adjusted EBITDA(1) of $248 million in the first three months of the year, representing 21% growth year-over-year, and an adjusted EBITDA margin(2) of 16.3%, up by 30 basis points year-over-year. Adjusted EBIT(1) reached $177 million, a remarkable 25% year-over-year increase, leading to an adjusted EBIT margin(2) of 11.6%, up by 50 basis points year-over-year.

Bombardier’s free cash flow usage(1) of $304 million demonstrated a 21% improvement
year-over-year as the company stabilizes its production rates after 4 years of significant growth. First quarter free cash flow usage(1) reflects the year’s planned production sequence and required build in inventory.

Click here to download the English Version of the Press Release
Click here to download the French Version of the Press Release

$750 million investment will prepare thousands of university and college students for critical jobs in STEM

April 22, 2025- HAMILTON — In order to protect and strengthen Ontario’s current and future workforce, the Ontario government is investing $750 million to support Science, Technology, Engineering and Mathematics (STEM) programs at colleges and universities across the province. This investment will fund up to 20,500 STEM seats per year, building a skilled, made-in-Ontario talent pool that will cement the province as one of the most competitive places in the G7 to invest, create jobs and do business.

“Our government is working to protect Ontario by building a more resilient economy that can withstand whatever comes our way, including tariffs and economic uncertainty from the U.S.,” said Nolan Quinn, Minister of Colleges, Universities, Research Excellence and Security. “Colleges and universities play a vital role in arming our economy with a highly skilled workforce. This investment will expand training capacity at our world-class publicly funded colleges and universities, connecting students to good-paying jobs and securing our world-class workforce for decades to come.”

Publicly assisted colleges and universities have access to this STEM funding immediately upon signing their 2025-2030 operating funding agreements, which have recently been finalized. Together with the government’s previously announced $1.3 billion investment to ensure the long term financial stability of our colleges and universities, Ontario has made the largest investment in postsecondary education in the province’s history.

As part of the government’s plan to protect our workers, industries and economy from the impact of President Trump’s tariffs, this historic investment in STEM education will strengthen the province’s key sectors, such as advanced manufacturing, life sciences and technology, ensuring businesses have the highly skilled workers to retain and grow Ontario’s economic advantage for decades to come.

Quick Facts

• Applications from Ontario students to STEM undergraduate programs at Ontario universities increased by 34 per cent from 2020 to 2024.
• On average, STEM graduates have lower unemployment and higher wages post-graduation than their non-STEM counterparts.
• This investment will be administered through the government’s Strategic Mandate Agreements, which are five-year funding agreements that detail the support Ontario provides our publicly assisted colleges and universities.
• For 2024-2025, the government is suspending funding recoveries for institutions that have fallen below their enrolment floor, ensuring that affected institutions can use the over $17 million in waived recoveries to support enrolment in STEM programs.
• As part of the government’s previously announced $1.3 billion investment to help stabilize the colleges and universities, the province is:
  • Investing $903 million over three years through the Postsecondary Education Sustainability Fund starting in 2024-25, including $203 million in funding for top-ups for institutions with greater financial need.
  • Increasing funding through the Efficiency and Accountability Fund to $17 million to support third-party reviews that will identify actions institutions can take to drive long-term cost savings and positive outcomes for students and communities.

Quotes

"Increasing numbers of students want to study STEM, and we deeply appreciate the government’s funding in this area. This important investment will ensure STEM students know they are supported in pursuing their studies and will help build a brighter economic future for Ontario."

- David Farrar
President and Vice Chancellor of McMaster University

"As a proud graduate of McMaster’s Biomedical and Mechanical Engineering program, I know firsthand how critical STEM education is to nurturing innovation and building real-world solutions. This investment will empower the next generation of changemakers to transform lives through technology. At ImaginAble Solutions, we developed Guided Hands®, an assistive device helping individuals with hand disabilities to write, draw, and use technology. Our success story began in a university lab—and with support like this, more Ontario students can bring life-changing solutions to impact the lives of others!"

- Lianna Genovese
CEO & Founder
ImaginAble Solutions

"This essential investment will help address the growing demand for university STEM spaces, building the highly skilled workforce Ontario needs in critical sectors like advanced manufacturing, AI, and life sciences. It comes at a pivotal moment when Ontario urgently needs to boost its productivity and economic competitiveness."

- Steve Orsini
President and CEO
Council of Ontario Universities

"Ontario’s colleges are training the workforce our economy needs now more than ever – particularly in STEM-based programs across construction, advanced manufacturing, health care, life sciences, mining and energy. We welcome this investment in domestic students and look forward to working with the province on this important initiative."

- Maureen Adamson
Interim President and CEO
Colleges Ontario

Click Here for original press release

News Release

April 15, 2025 - Ottawa, Ontario - Department of Finance Canada

The Minister of Finance, the Honourable François-Philippe Champagne, today announced new measures for Canadian businesses and entities affected by the tariff dispute between Canada and the United States. These measures include the remission of some of the countermeasure tariffs announced by Canada in response to unjustified tariffs imposed by the U.S. on Canadian products.

First, Minister Champagne announced a performance-based remission framework for automakers, designed to incentivize continued production and investment in Canada. In recognition of the integrated nature of the North American automotive sector, this will allow automakers that continue to manufacture vehicles in Canada to import a certain number of U.S.-assembled, CUSMA-compliant vehicles into Canada, free of the countermeasure tariffs that Canada has imposed.

The remission granted to these companies is contingent on these automakers continuing to produce vehicles in Canada and on completing planned investments. The number of tariff-free vehicles a company is permitted to import will be reduced if there are reductions in Canadian production or investment.

Second, the Minister announced that the government intends to provide temporary 6-month relief for goods imported from the U.S. that are used in Canadian manufacturing, processing and food and beverage packaging, and for those used to support public health, health care, public safety, and national security objectives. This provides immediate relief to a broad cross-section of Canadian businesses that must rely on U.S. inputs to support their competitiveness as well as to entities integral to Canadians’ health and safety, such as hospitals, long-term care facilities and fire departments. The remission is provided on a time-limited basis to provide businesses and entities with additional time to adjust their supply chains and prioritize domestic sources of supply if available.

Third, the new Large Enterprise Tariff Loan Facility (LETL), as announced by the Prime Minister in March, is now accepting applicants. This program will support eligible large businesses—including those that contribute to Canada’s food security, energy security, economic security and national security—that are facing difficulties in accessing traditional sources of market financing, by providing access to liquidity. This will help employers that were viable before the recent U.S. trade actions to help sustain their operations and return to financial stability. Companies will be required to make efforts to maintain jobs and sustain business activities in Canada. Those that were already involved in insolvency proceedings before this crisis will not be eligible.

In the weeks and months ahead, additional measures will be brought forward, as needed, to support businesses and workers. The federal government will also continue to work closely with provinces and territories to ensure complementary supports are in place across all jurisdictions.

Quotes
“From day one, the government has reacted with strength and determination to the unjust tariffs imposed by the United States on Canadian goods. We continue to stand by Canada’s workers and businesses. Today, we’re giving Canadian companies and entities more time to adjust their supply chains and become less dependent on U.S. suppliers. This will help make our economy stronger and more resilient.”

- The Honourable François-Philippe Champagne, Minister of Finance

Quick facts
- On March 4, the U.S. imposed tariffs on Canadian goods under the International Emergency Economic Powers Act. Canada responded by imposing 25% tariffs on $30 billion in goods imported from the U.S., including spirits, appliances, apparel, footwear, motorcycles, cosmetics, and certain pulp and paper products.

- On March 12, the U.S. imposed tariffs on all steel and aluminum products. Canada responded by applying 25 per cent reciprocal tariffs on a list of steel products worth $12.6 billion and aluminum products worth $3 billion, as well as additional imported U.S. goods worth $14.2 billion, for a total of $29.8 billion. The list of additional products affected by counter tariffs includes tools, computers and servers, display monitors, sport equipment, and cast-iron products.

- On April 3, U.S. tariffs of 25 per cent on Canadian automobiles came into effect. They apply to the non-U.S. content of the goods if they are CUSMA-compliant. Canada responded by imposing on April 9, 25 per cent tariffs on non-CUSMA compliant U.S.-made vehicles, and on the non-Canadian and non-Mexican content of CUSMA compliant U.S.-made vehicles. 

- Following the initial imposition of Canadian surtaxes on March 4, the government outlined a framework for exceptional relief from Canada’s retaliatory surtaxes.  The framework outlines the conditions under which the government will consider providing relief, including: i) to address situations where goods used as inputs cannot be sourced domestically, either on a national or regional basis, or reasonably from non-U.S. sources; and ii) to address, on a case-by-case basis, other exceptional circumstances that could have severe adverse impacts on the Canadian economy.

Media may contact:
Media Relations
Department of Finance Canada
mediare@fin.gc.ca
613-369-4000

General enquiries:
Phone: 1-833-712-2292
TTY: 613-369-3230
E-mail: financepublic-financepublique@fin.gc.ca

Click here for Original Release

 

There were 60 shareholders represented in person or by proxy at the AGM holding 14,059,796 Common Shares representing 55.85% of the Corporation’s issued and outstanding Common Shares.

In addition, at the AGM, the shareholders appointed McGovern Hurley LLP as the Corporation’s auditor and authorized the directors to fix the auditor’s remuneration. For more information on these matters, please refer to FTG’s management information circular dated February 28, 2025, available on SEDAR+ at www.sedarplus.com.

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: 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: Designs, certifies, manufactures, and provides in-service support for illuminated cockpit products and electronic assemblies for original equipment manufacturers and operators of aerospace and defence equipment. FTG Aerospace has operations in Toronto, Ontario, Calgary, Alberta, Chatsworth, California, and Tianjin, China.

The Corporation's shares are traded on the Toronto Stock Exchange under the symbol FTG, and on the OTCQX Exchange under the symbol FTGFF.

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
Tel: (416) 299-4000, ext. 314
Firan Technology Group Corporation
bradbourne@ftgcorp.com
   
Jamie Crichton, Vice President and CFO
Tel: (416) 299-4000, ext. 264
Firan Technology Group Corporation
jamiecrichton@ftgcorp.com
   
Additional information can be found at the Corporation’s website www.ftgcorp.com

Province delivering support to businesses, while making Ontario the best place in the G7 to invest, create jobs and do business

TORONTO — The Ontario government is providing approximately $11 billion in relief and support for workers and businesses as it protects the province’s economy from economic uncertainty and the impact of U.S. tariffs.

“In the face of President Trump’s attacks on Ontario’s economy, our government will do whatever it takes to protect Ontario workers and businesses. Today’s measures will help give workers and businesses the support they need in the face of growing economic uncertainty,” said Premier Doug Ford. “We can’t control President Trump, but we’re in full control of the kind of future we build for ourselves. The best way to protect Ontario is to build the most competitive economy in the G7, breaking down internal trade barriers and diversifying our trade so we can build a more resilient, prosperous and secure province.”

As a first step to support workers and businesses, the province is:

• Deferring select provincially administered taxes for six months from April 1, 2025, to October 1, 2025, giving businesses and job creators approximately $9 billion worth of cash flow they need to keep workers employed and weather the economic turmoil.
• Through the Workplace Safety and Insurance Board (WSIB), issuing a further $2 billion rebate for safe employers to support businesses and help keep workers on the job, in addition to the previous $2 billion rebate distributed in March.
  

The government is ready to do whatever is necessary to protect Ontario.

Quick Facts

• Ontario is granting relief to businesses remitting taxes under Ontario’s 10 business-focused tax programs, including the Employer Health Tax, Insurance Premium Tax, Gasoline Tax, Fuel Tax, Mining Tax, Tobacco Tax, International Fuel Tax Agreement, Beer, Wine & Spirits Tax, the Retail Sales Tax on Insurance Contracts and Benefit Plans and the Race Tracks Tax.
  
• Providing up to $9 billion in cash flow support to about 80,000 Ontario businesses by offering six months of interest and penalty relief will allow them to temporarily delay payments for select provincially administered taxes, giving them more flexibility to deal with any challenges resulting from U.S. tariffs.
  
• The six-month period begins April 1, 2025, and ends October 1, 2025. All taxes owed must be paid by October 1, 2025.
  
• The WSIB surplus rebate announced last November returned $2 billion in surplus funds to Ontario businesses. Eligible businesses who are safe employers received their distribution amount in March.
  
• Last year, the government also provided additional support for workers by removing the $150 fee for apprentices taking their first Certificate of Qualification exam, saving each apprentice at least $330 in total when combined with other fee removals and deductions that the province has implemented since 2019.
  
• The province also unlocked $400 million in health and safety programs for workers and employers developed by the WSIB, to support workers and ensure they have the supports they require.
  

Quotes

"In these uncertain times, Ontario businesses need certain relief. By achieving better results and strong financial management we are able to return this surplus right when businesses need it the most."

- Jeffery Lang
President and CEO, Workplace Safety and Insurance Board

Click here for the Original Press release

De Havilland Aircraft of Canada (DHC) announced that it has acquired all of the shares of Fleet Canada Inc. (Fleet) of Fort Erie, Ont.

Fleet is a current supplier of parts and aerostructures for De Havilland Canada as well as a number of other original equipment manufacturers (OEMs). 

The company operates in a 500,000 square foot facility in southern Ontario, which has the capacity to support the growth and expansion of De Havilland Canada.

With the addition of Fleet, DHC is now able to in-source a number of capabilities that the company did not already have including metal-to-metal bonding and advanced composites.

Currently, Fleet is providing parts for De Havilland Canada on the Twin Otter, De Havilland Canadair-515 and Dash 8 programs. It is expected the capacity at the Fleet facility will grow as new machinery is added and additional staff are brought on to keep pace with growing demand.

“By adding the capacity and capabilities of Fleet Canada, De Havilland Aircraft of Canada will be better able to meet the needs of our customers,” said Brian Chafe, CEO of De Havilland Canada. 

“Our focus is to keep our fleet flying and to meet the growing demand for the De Havilland Canadair 515. The acquisition of Fleet’s team and capacity will go a long way to accomplishing this.”

“I’m thrilled to add Fleet’s manufacturing capabilities and the team’s skills to De Havilland Canada’s toolkit,” said Gerry Kelly, DHC vice-president of manufacturing. “Fleet have been a terrific supplier for DHC, and their craftsmanship and in-house processing capabilities are a great addition to deliver timely solutions for our customers.”

“With over 46,000 workers across more than 200 companies, Ontario has established itself as a key player in the production and development of cutting-edge aerospace and aerostructure parts,” said Vic Fedeli, Ontario’s minister of economic development, job creation and trade. 

“We congratulate De Havilland Canada on the growth of their operations and look forward to seeing Fleet Canada’s craftsmanship continue to define the future of advanced aerostructure manufacturing here in Ontario.”

This press release was prepared and distributed by De Havilland Canada.

TSB issues preliminary report on February 2025 accident of Endeavour Air CRJ-900 LR aircraft at Toronto Pearson Airport

Richmond Hill, Ontario, 20 March 2025  — Today, the Transportation Safety Board of Canada (TSB) released a preliminary report concerning its investigation (A25O0021) into the February 17, 2025 accident involving a Bombardier CRJ-900 LR aircraft operated by Endeavor Air (dba Delta Connection) at the Toronto Pearson Airport, Ontario.

The preliminary report is being issued today in accordance with Annex 13 of the International Civil Aviation Organization (ICAO) Convention on Civil Aviation.

The report contains preliminary factual information gathered to date and is intended to provide information on the progress of the investigation. This includes data captured by the aircraft’s flight data recorder during the approach and landing phase of the flight, information about weather reports issued before and after the occurrence and personnel information. There are also details about post-impact aircraft damage, the state of the aircraft controls and engines as found post-occurrence, and information about the emergency response and evacuation. The preliminary report also provides insight on the current areas of focus for the investigation.

The information in the preliminary report may be incomplete, may change during the investigation or new relevant facts may become known that have not yet been considered. In addition to the preliminary report, we have also released a video featuring the Investigator-in-charge, offering a firsthand look at the investigation progress to date.

The preliminary report and investigation page contain all the information we can currently share about this investigation. It is important to note that at this stage in the investigation, it is too early to draw conclusions as to the causes of this accident. A full investigation report, which will include the TSB’s analysis into why the accident happened and the Board's findings, will be released in due course. Should we uncover any significant safety deficiencies requiring immediate action during the investigation, we will not hesitate to make these known to the regulator and industry.

See the investigation page for more information.

The TSB is an independent agency that investigates air, marine, pipeline, and rail transportation occurrences. Its sole aim is the advancement of transportation safety. It is not the function of the Board to assign fault or determine civil or criminal liability.

For more information, contact:
Transportation Safety Board of Canada
Media Relations
Telephone: 819-360-4376
Email: media@tsb.gc.ca

Premier Doug Ford Unveils Cabinet to Protect Ontario
Experienced team will deliver on historic mandate from the people to protect Ontario’s economy and workers

March 19, 2025

Office of the Premier

TORONTO — Today, Premier Doug Ford unveiled his cabinet with an experienced team that will deliver on the government’s mandate to do whatever is necessary to protect Ontario in the face of tariffs from the United States, while building a stronger, more competitive and resilient economy.

“As Ontario faces one of the greatest challenges in our history, workers and families are counting on us to stand up for their jobs and well-being,” said Premier Doug Ford. “Our government will double down on our plan to build, train and reskill workers for better jobs and bigger paycheques, tear down internal trade barriers, retool companies for new customers in new markets, attract more investments and cut through red tape to develop our vast natural resources, including critical minerals in the Ring of Fire. No matter what, we will protect Ontario.”

Ontario’s new Executive Council is as follows:

• Doug Ford, Premier of Ontario and Minister of Intergovernmental Affairs
• Sylvia Jones, Deputy Premier and Minister of Health
• Trevor Jones, Minister of Agriculture, Food and Agribusiness
• Doug Downey, Attorney General
• Michael Parsa, Minister of Children, Community and Social Services
• Graham McGregor, Minister of Citizenship and Multiculturalism
• Nolan Quinn, Minister of Colleges, Universities, Research Excellence and Security
• Vic Fedeli, Minister of Economic Development, Job Creation and Trade
• Paul Calandra, Minister of Education
• Jill Dunlop, Minister of Emergency Preparedness and Response
• Stephen Lecce, Minister of Energy and Mines
• Todd McCarthy, Minister of the Environment, Conservation and Parks
• Peter Bethlenfalvy, Minister of Finance
• Greg Rickford, Minister of Indigenous Affairs and First Nations Economic Reconciliation and the Minister Responsible for Ring of Fire Economic and Community Partnerships
• Kinga Surma, Minister of Infrastructure
• David Piccini, Minister of Labour, Immigration, Training and Skills Development
• Natalia Kusendova-Bashta, Minister of Long-Term Care
• Rob Flack, Minister of Municipal Affairs and Housing
• Mike Harris, Minister of Natural Resources
• George Pirie, Minister of Northern Economic Development and Growth
• Stephen Crawford, Minister of Public and Business Service Delivery and Procurement
• Andrea Khanjin, Minister of Red Tape Reduction
• Lisa Thompson, Minister of Rural Affairs
• Raymond Cho, Minister for Seniors and Accessibility
• Michael Kerzner, Solicitor General
• Neil Lumsden, Minister of Sport
• Stan Cho, Minister of Tourism, Culture and Gaming
• Prabmeet Sarkaria, Minister of Transportation
• Caroline Mulroney, President of the Treasury Board and Minister of Francophone Affairs
• Michael Tibollo, Associate Attorney General, as part of the Ministry of the Attorney General
• Zee Hamid, Associate Solicitor General for Auto Theft and Bail Reform, as part of the Ministry of the Solicitor General
• Sam Oosterhoff, Associate Minister of Energy-Intensive Industries, as part of the Ministry of Energy and Mines
• Kevin Holland, Associate Minister of Forestry and Forest Products, as part of the Ministry of Natural Resources
• Graydon Smith, Associate Minister of Municipal Affairs and Housing, as part of the Ministry of Municipal Affairs and Housing
• Vijay Thanigasalam, Associate Minister of Mental Health and Addictions, as part of the Ministry of Health
• Nina Tangri, Associate Minister of Small Business, as part of the Ministry of Economic Development, Job Creation and Trade
• Charmaine Williams, Associate Minister of Women’s Social and Economic Opportunity, as part of the Ministry of Children, Community and Social Services
  

To effectively deliver on its plan to protect Ontario, the government is also making changes to certain ministries’ areas of authority and responsibilities:

• The Minister of the Environment, Conservation and Parks will now have responsibility over conservation authorities
• The Minister of Energy and Mines and the Associate Minister of Energy-Intensive Industries will now have responsibility over broadband expansion and connectivity
  Premier Ford and his team are ready to protect Ontario.
  

Premier Ford and his team are ready to protect Ontario.