Omni-Lite Industries announces new military orders
CERRITOS, CA, March 10, 2014 /CNW/ - Omni-Lite Industries Canada Inc. is pleased to announce that it has received orders for two of the U.S. military components that it has developed in the last 24 months. These contracts require that the Company deliver these components in the second quarter of 2014.
In total, the Company is pleased to announce approximately $762,000 US ($842,010 CAD) in new orders, including those mentioned above, that include four divisions of the Company. Of these new orders 49 percent are in the Military division, 28 percent are in the Specialty Automotive division, 12 percent are in the Aerospace division, and 11 percent are in the Sports and Recreation division.
To meet the increasing demands of our customers, the Company recently installed a second Sodick EDM (Electrical Discharge Machining) system worth approximately $240,000 US. "This new system is another step in bringing most tooling capabilities in-house, further reducing lead times for our customers and potentially reducing the costs of the complex tools that the Company requires to meet the strict technical and scheduling demands of our growing customer base," stated Mike Walker, VP of R and D.
Omni-Lite is a rapidly growing high technology company that develops and manufactures precision components utilized by several Fortune 500 Companies including Boeing, Airbus, Alcoa, Ford, Caterpillar, Borg Warner, Chrysler, the U.S. Military, Nike, and adidas.
Except for historical information contained herein this document contains forward-looking statements. These statements contain known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Omni-Lite Industries Canada Inc.For further information: