OMNI-LITE INDUSTRIES CANADA INC.
CERRITOS, CA, April 14, 2014 /CNW/ - Omni-Lite Industries Canada Inc. is
pleased to announce that revenue for the first quarter of 2014 was
approximately $1,365,643 US ($1,510,000 CAD). In US dollar terms, this
represents an increase of approximately 29 percent over revenue in the
first quarter of 2013.
"This increase in quarterly revenue was primarily due to increased sales
in the Aerospace and Automotive divisions," stated Allen Maxin,
President. "In another positive development, the Company is now
beginning to manufacture the components required for the military
projects announced last month. These projects are scheduled to be
substantially completed in the second quarter."
Omni-Lite Industries is also pleased to announce approximately $382,000
US ($422,400 CAD) in new orders that include three divisions of the
Company. Of these new orders, 56 percent are in the Aerospace
Division, 30 percent are in the Specialty Automotive Division and 14
percent are in the Sports and Recreation division.
To meet the forecast demand for an automotive component now utilized on
approximately 30 percent of the vehicles produced in North America, the
Company has recently doubled the production quantities of this critical
brake part. The total number of these components is scheduled to exceed
20,000,000 parts per year. This contract is expected to continue until
The Company would like to note two significant accomplishments in the
development of its green diesel program. The first would be the
commercialization of a new component utilized by two major OEM's in the
agricultural and off road construction industries. The second
development would be a new level of success in the preparation and
utilization of one of the most difficult materials found in the cold
forging industry. "If the success in this second program continues,
three years of development could lead to significant additional
benefits for Omni-Lite," stated David Grant, CEO.
Omni-Lite Industries is also pleased to note that it has been awarded
the Foreign Direct Investment Award for 2014, as part of World Trade
Week, an initiative of the LA Chamber of Commerce. This award
represents the significant contributions that Omni-Lite has made to
trade in the Los Angeles area. In 2013, the Company was also featured
in a brochure prepared by the Canadian Consulate in Los Angeles. This
brochure was circulated throughout the United States to illustrate the
significant contribution that Canadian companies make to the US
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: firstname.lastname@example.org