Omni-Lite Industries Receives Additional U.S. Military Orders
February 29 2012 - 11:31PM
PR Newswire (Canada)
OML-TSX VENTURE 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.
Omni-Lite Industries Canada Inc. CONTACT: Mr. Tom Peterson,
Investor Relations ManagerTel. No. (562) 404-8510 x104 or (800)
577-6664 (Canada and USA)Fax. No. (562) 926-6913, email:
t.peterson@omni-lite.comWebsite: www.omni-lite.com
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