CERRITOS, CA, March 1, 2012 /CNW/ - Omni-Lite Industries Canada Inc. is pleased to announce that it has received two new contracts for U.S. Military programs. These contracts follow the two new development programs announced on January 27, 2012. One program is for first production quantities of a component developed in February 2012 and the other contract is for a new variant of a program announced in the January press release.
"The growing interest in Omni-Lite's technical capabilities by the U.S. Military and our Tier One military customers has allowed Omni-Lite to diversify its opportunities and development efforts in what is a large market," stated David Grant, Chairman and CEO.
In addition, Omni-Lite Industries is pleased to announce that it has received new orders that include the other divisions of the Company. The total value of all new orders, received since the last Press Release on January 27, 2012, is $760,359 US. Of these new orders approximately 63 percent are in the Aerospace division, 23 percent are in the Specialty Automotive division, 12 percent are in the Sports and Recreation division, and 2 percent are in the Military division.
"The Company is continuing to see a rapid increase in aerospace orders due to the large backlog that exists at the major airframe manufacturers," stated Allen W. Maxin, President. "This trend of higher orders looks to continue for a period of several years."
Omni-Lite Industries Canada Inc. 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.
THE TSX-VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE INFORMATION CONTAINED HEREIN.
For further information:
Mr. Tom Peterson, Investor Relations Manager
Tel. No. (562) 404-8510 x104 or (800) 577-6664 (Canada and USA)
Fax. No. (562) 926-6913, email: [email protected]