CERRITOS, CA, Sept. 11, 2014 /CNW/ - Omni-Lite Industries Canada Inc. is
pleased to announce approximately $461,790 US ($507,563 CAD) in new
orders. Of these orders, approximately 44% are in the Sports and
Recreation division, 30% are in the Aerospace and Military divisions,
and 26% are in the Specialty Automotive division.
The Company is also pleased to note that these contract awards include a
follow-on order from a major U.S. military customer. The contract is
related to a Research and Development program that was initiated in
2012. This phase two contract will be completed by October 15, 2014.
The Company has also been notified that the new military customer
referenced in the Company's press release dated August 20, 2014 will be
returning to Omni-Lite, within the next three weeks, for the completion
of the first article qualification process for the component delivered
under the aforementioned initial contract. This review is an essential
step in the initiation of any production contract award for this
One of the Specialty Automotive orders mentioned above is for the
production of a significant number of components for a new brake
product. These parts will be utilized in an extensive system assembly
trial program. "The Company is already manufacturing very large
quantities of another component utilized in this system, which is
incorporated in approximately 30% of all the automobiles manufactured
annually in North America ," stated Allen Maxin, President.
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