CERRITOS, CA, March 10, 2014 /CNW/ - Omni-Lite Industries Canada Inc. is
pleased to announce that it has received orders for two of the U.S.
military components that it has developed in the last 24 months. These
contracts require that the Company deliver these components in the
second quarter of 2014.
In total, the Company is pleased to announce approximately $762,000 US
($842,010 CAD) in new orders, including those mentioned above, that
include four divisions of the Company. Of these new orders 49 percent
are in the Military division, 28 percent are in the Specialty
Automotive division, 12 percent are in the Aerospace division, and 11
percent are in the Sports and Recreation division.
To meet the increasing demands of our customers, the Company recently
installed a second Sodick EDM (Electrical Discharge Machining) system
worth approximately $240,000 US. "This new system is another step in
bringing most tooling capabilities in-house, further reducing lead
times for our customers and potentially reducing the costs of the
complex tools that the Company requires to meet the strict technical
and scheduling demands of our growing customer base," stated Mike
Walker, VP of R and D.
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