OML-TSX VENTURE
CERRITOS, CA,
March 10, 2014 /CNW/ - Omni-Lite
Industries Canada Inc. is pleased to announce that it has received
orders for two of the U.S. military components that it has
developed in the last 24 months. These contracts require that the
Company deliver these components in the second quarter of 2014.
In total, the Company is pleased to announce
approximately $762,000 US
($842,010 CAD) in new orders,
including those mentioned above, that include four divisions of the
Company. Of these new orders 49 percent are in the Military
division, 28 percent are in the Specialty Automotive division, 12
percent are in the Aerospace division, and 11 percent are in the
Sports and Recreation division.
To meet the increasing demands of our customers,
the Company recently installed a second Sodick EDM (Electrical
Discharge Machining) system worth approximately $240,000 US. "This new system is another step in
bringing most tooling capabilities in-house, further reducing lead
times for our customers and potentially reducing the costs of the
complex tools that the Company requires to meet the strict
technical and scheduling demands of our growing customer base,"
stated Mike Walker, VP of R and
D.
Omni-Lite 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.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE Omni-Lite Industries Canada Inc.