CERRITOS, CA, April 28 /CNW/ - Omni-Lite Industries Canada Inc. is
pleased to announce that it has received new orders that cross all
divisions of the Company. The total value of these orders is
approximately $2,592,000 US. Of these new orders, 32 percent are in the
Military division, 29 percent are in the Aerospace division, 23 percent
are in the Specialty Automotive division and 16 percent are in the
Sports and Recreational and Commercial divisions. These orders have
been placed with the Company over the last four months.
"Since the fourth quarter of 2010, the Company has seen significant
interest in the military and aerospace products offered by Omni-Lite,"
stated Allen W. Maxin, VP of Operations. "The Company expects
additional revenue streams to commence in the second and third quarters
of 2011 once commercial quantities of the new products developed in the
Anti-Lock Brake and the Electric Vehicle programs begin shipping.
Successful product reviews conducted with several major customers in
the last month have lead to requests for nine new programs that would
need engineering and prototype development completed in 2011. To aid
in this aggressive development process, the engineering team has begun
using a sophisticated finite element forging simulation software
package from Simufact-Americas LLC. Given the backlog of new work that
has been proposed by our customers, the Company's product development
pipeline is full until at least early 2012."
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, John
Deere, 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.
THE TSX-VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE
INFORMATION CONTAINED HEREIN.
SOURCE Omni-Lite Industries Canada Inc.
For further information:
Mr. Tim Wang, CFO
Tel. No. (562) 404-8510 or (800) 577-6664 (Canada and USA)
Fax. No. (562) 926-6913, email: firstname.lastname@example.org