Omni-Lite Industries Receives First Production Order For The Green Round From Its U.S. Military Customer
August 19 2011 - 8:30AM
PR Newswire (Canada)
CERRITOS, CA, Aug. 19, 2011 /CNW/ -- OML-TSX VENTURE CERRITOS, CA,
Aug. 19, 2011 /CNW/ - Omni-Lite Industries is pleased to announce
that it has received a first production order for the lead-free
Green Round program from its Tier 1 military customer. This
contract award comes after receiving the first article approval for
this component in July of 2011. These products are to be
delivered in the September to November timeframe of this year and
represent the culmination of a four year development program
undertaken by the US Military, our customer, and Omni-Lite. In
addition, Omni-Lite Industries is pleased to announce that it has
received several new orders that include all divisions of the
Company. The total value of all new orders received is
approximately $1,727,000 US, including the contract for the Green
Round mentioned above. Of these new orders, 37 percent are in
the Military division, 28 percent are in the Sports and Recreation
division, 20 percent are in the Aerospace division and 15 percent
are in the Specialty Automotive Division. These orders have been
placed with the Company over the last two months to three months.
"In addition to the successes mentioned above, the Company has been
informed by one of our Tier 1 aerospace customers that due to the
increasing demand for commercial aircraft, the Company should begin
to see production increases of 30 to 35 percent over last year's
production requirements. The Company is also continuing to see very
strong demand for its Sports and Recreation products, which in some
cases are approximately double the orders from previous years.
Regarding the hybrid battery program, the Company has been
notified, by our prime customer, that the components delivered in
June 2011 have been successfully assembled into the substructure,"
stated Allen W. Maxin, President. "Fortunately most areas of
business that the Company has chosen to pursue are all expanding
simultaneously." 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. To
view this news release in HTML formatting, please use the following
URL:
http://www.newswire.ca/en/releases/archive/August2011/19/c4866.html
p /p p align="justify" Mr. Tim Wang, CFObr/ Tel. No. (562)
404-8510 or (800) 577-6664 (Canada and USA)br/ Fax. No. (562)
926-6913, email: ba href="mailto:info@omni-lite.com"
font-style="italic"info@omni-lite.com/a/b /p p align="justify"
Website: ba href="http://www.omni-lite.com"
font-style="italic"www.omni-lite.com/a/b /p
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