Omni-Lite Industries receives new orders across all divisions
October 14 2011 - 8:30AM
PR Newswire (Canada)
OML-TSX VENTURE CERRITOS, CA, Oct. 14, 2011 /CNW/ -
Omni-Lite Industries is pleased to announce that it has received
several new orders spread across all divisions of the
Company. The total value of the new orders received is
approximately $743,500 US. Of these new orders, 44 percent
are in the Specialty Automotive division, 26 percent are in the
Aerospace division, 18 percent are in the Sports and Recreation
division, and 12 percent are in the Military division. Omni-Lite
notes that it has largely completed the development of two of the
four components for the EV and Hybrid program undertaken with a
leading supplier of Nanocrystalline battery technology in the
United States. The Company is waiting for final customer approval
before initiating production for these first two products. "This
program is proceeding very well technically and if the customer's
forecasts are correct the revenues from this program could be more
substantial than initially estimated," stated Allen W. Maxin,
President. "The development of the two additional components
is expected to be completed in about 30 days and all four
components are scheduled to be in production by year end." The
Company is pleased to announce that revenues in the third quarter
of 2011 were approximately $1,793,000 US ($1,839,040 CDN).
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.
Omni-Lite Industries Canada Inc. CONTACT: Mr. Tim Wang, CFOTel. No.
(562) 404-8510 or (800) 577-6664 (Canada and USA)Fax. No. (562)
926-6913, email: info@omni-lite.comWebsite: www.omni-lite.com
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