(Marketwatch)Firan Technology Group Corporation ("FTG")(TSX: FTG) of Toronto, Canada today announced that it has signed an Investment Agreement with Tianjin Airport Industry Park (The "TAIP") to establish a manufacturing facility within the park, located in Tianjin, China.

The signed Investment Agreement enables FTG, with the support of TAIP, to establish a Wholly Owned Foreign Enterprise ("WOFE"), operating as FTG Aerospace - Tianjin. The WOFE will leverage the skills and technology from the Toronto based FTG Aerospace Division. The new subsidiary will focus on manufacturing illuminated cockpit control products and systems, in line with FTG Aerospace, serving both global and the Chinese domestic market.

"This agreement to launch a facility in China helps us achieve our goal of expanding our global presence", said Brad Bourne, President and CEO of FTG. "According to well published documents and our own studies, the Aerospace industry in China is set for incredible growth. There is tremendous upside to this deal as FTG has already engaged several existing and new potential customers in China".

"FTG is the 6th Aerospace Company to establish an operation within TAIP along with Airbus, Goodrich, Thales, Zodiac and Indra", said Mr. Wang Fu Qiang, Senior VP of Tianjin Airport Industrial Park Administration Commission. "The type of products FTG produces is completely complimentary to what we are attempting to achieve within TAIP; to build a world class Aerospace industrial base in Tianjin".

FTG expects to complete the implementation of the investment agreement in early 2009 and have set the plant to be active, producing high quality cockpit devices by the fall.