- New bookings of over $916,000
US
- Key military program passes performance tests
- Omni-Lite developing forging system to operate at elevated
temperatures
TSXV: OML
OTCQX: OLNCF
LOS ANGELES, Nov. 30, 2016 /CNW/ - Omni-Lite Industries Canada
Inc. (the "Company" or "Omni-Lite") is pleased to announce new
sales orders of over $916,000 US. Of
these orders, 50% are in the Specialty Automotive division, 45% are
in the Aerospace division, and 5% are in the Sports and
Recreational division. This brings the total value of the new
orders announced in 2016 to over $7.7
million US or approximately $10.4
million CDN, at the exchange rate of November 29, 2016. "Particularly important, the
Company has received notice from a large military customer, that a
key product developed in a critical program has passed the live
fire performance tests required before a contract can be awarded
and production can begin," stated Allen W.
Maxin, President.
"To open new markets and drive growth well into the future, the
company has begun a large scale development program to convert one
of its existing multi-station forming machines into a system that
operates at elevated temperatures. This will facilitate the forging
of the super materials of the future," stated Mike Walker, VP of R and D. "This market is
growing quickly as modern aircraft, automobiles, and other
transportation systems demand lighter and stronger components in
their design."
Omni-Lite Industries Canada Inc. is a rapidly growing high
technology company that develops and manufactures mission critical,
precision components utilized by Fortune 100 companies including
Boeing, Airbus, Bombardier, Embraer, Alcoa, Ford, Borg Warner, Chrysler, John Deere, the U.S.
Military and Nike.
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SOURCE Omni-Lite Industries Canada Inc.