CERRITOS, CA, Nov. 13, 2013 /CNW/ - Omni-Lite Industries Canada Inc. is
pleased to announce approximately $773,815 US ($811,800 CAD) in new
orders that include three divisions of the Company. Of these new orders
52 percent are in the Specialty Automotive division, 43 percent are in
the Aerospace division and 5 percent are in the Sports and Recreation
To meet the production requirements for the growing orders in the
Specialty Automotive and Aerospace divisions, the Company has hired
three experienced progressive cold heading operators, all with an
aerospace background. In addition, the operating hours of the factory
have been increased from 17 hours per day to 18 hours per day, Monday
to Friday. On a temporary basis, hours on Saturday have been increased,
allowing the factory to open at 0500 hrs and close at 1900 hrs.
To meet the increases in demand in the Automotive and Aerospace markets
expected in 2014, the Company has ordered an additional Sodick
Electrical Discharge Machining system for delivery in January. This
system has some enhanced features improving its performance over the
existing Sodick system. This new system will continue to allow the
Company to produce the complex tooling required in the progressive cold
forging process without having to rely heavily on outside vendors. This
unit will ensure that the Company can maintain a quick turnaround for
the tooling required, resulting in significant production benefits. The
total cost of this system with all the options and specialty handling
systems ordered by the Company is approximately $230,000 US.
"Throughout 2013 the Company has been striving to improve productivity
and hence raise corporate gross margins back to historical levels,"
stated David F. Grant, CEO. "Through this process the gross margin has
risen from 55% at the end of 2012 to about 58% at the end of Q3 2013."
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:
Mr. Tim Wang, CFO
Tel. No. (562) 404-8510 or (800) 577-6664 (Canada and USA)
Fax. No. (562) 926-6913, email: email@example.com