Contract Win Supports Future Growth with Key
Customer and Further Builds Company's Long Term
Backlog
OMNI-LITE INDUSTRIES CANADA
INC.
OML-TSX VENTURE
CERRITOS, CA, Jan. 12, 2015 /CNW/ - Omni-Lite Industries Canada
Inc. (TSXV: OML) is pleased to announce that it has received a two
year contract from a major Tier 1 Automotive supplier. Based on
current projections from this customer, this contract is estimated
to have a value of approximately $2.8
million US ($3.3 million CAD)
and will extend the Company's current deliveries of this product
line until the end of 2016.
"This product will be utilized in approximately 30% of the cars
manufactured in North America
annually," stated Allen W. Maxin,
President. "As a result, future projections by our customer
show further increases in demand, which Omni-Lite is well prepared
to meet."
Initially, this program will contribute sales of approximately
$314,000 US ($372,000 CAD) per quarter to the Company's
revenue stream.
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.