OML-TSX VENTURE
CERRITOS, CA,
Sept. 11, 2014 /CNW/ - Omni-Lite
Industries Canada Inc. is pleased to announce approximately
$461,790 US ($507,563 CAD) in new orders. Of these orders,
approximately 44% are in the Sports and Recreation division, 30%
are in the Aerospace and Military divisions, and 26% are in the
Specialty Automotive division.
The Company is also pleased to note that these
contract awards include a follow-on order from a major U.S.
military customer. The contract is related to a Research and
Development program that was initiated in 2012. This phase two
contract will be completed by October 15,
2014.
The Company has also been notified that the new
military customer referenced in the Company's press release dated
August 20, 2014 will be returning to
Omni-Lite, within the next three weeks, for the completion of the
first article qualification process for the component delivered
under the aforementioned initial contract. This review is an
essential step in the initiation of any production contract award
for this program.
One of the Specialty Automotive orders mentioned
above is for the production of a significant number of components
for a new brake product. These parts will be utilized in an
extensive system assembly trial program. "The Company is already
manufacturing very large quantities of another component utilized
in this system, which is incorporated in approximately 30% of all
the automobiles manufactured annually in North America ," stated Allen Maxin, President.
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.