CERRITOS, CA, May 25, 2011 /CNW/ - Omni-Lite Industries Canada Inc. is
pleased to announce that it has received three new orders from a Tier
One EV/Hybrid battery manufacturer. These orders are for the
engineering, tooling and product development aspects of programs that
will culminate in the submission of first article components for review
"These orders are part of the potential backlog mentioned in a press
release of April 28, 2011," stated Michael K. Walker, VP of Research
and Development. "The Company's challenge now is to complete an
aggressive series of development projects, where time to market may be
shrinking as the popularity and necessity of green transportation
Omni-Lite is also pleased to announce that it has received several new
orders that are concentrated in the Sports and Recreational and
Aerospace divisions. The total value of these orders, including the
battery component development orders mentioned above, is approximately
$658,000 US. Of these new orders, 63 percent are in the Sports and
Recreational division, 26 percent are in the Aerospace division, 7
percent are in the Specialty Automotive division and 4 percent are in
the Military division.
"As in the first quarter, Omni-Lite is seeing large increases in orders
within the Sports and Recreational Division, where orders for some
components have increased by approximately 50% over last year.
Omni-Lite is also seeing a rapid resurgence in its specialty Aerospace
product lines," stated Timothy Wang, CFO. "These orders and the
additional visibility now available on shipments for the key military
components manufactured by Omni-Lite, enable the Company to move
forward in the execution of its business plan for 2011."
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: email@example.com