- Overall footprint expanding 38% to 47,000 sq ft
- Starts development of new aerospace components
- Delivers key military component for customer review
TSXV:OML
OTCQX:OLNCF
LOS ANGELES, CA, May 24, 2016 /CNW/ - Omni-Lite Industries
Canada Inc. (the "Company" or "Omni-Lite") is pleased to announce
that it has signed five year leases for two buildings adjacent to
the 34,000 square foot facility that it owns in the heart of the
Aerospace Industry in Southern
California. These additional buildings will increase the
total area of the Omni-Lite facility to approximately 47,000 sq ft.
"The Company has been looking to expand the facility for several
years and the availability of these two adjacent buildings will
enlarge the area actually utilized for manufacturing by about 76%.
This will allow the Company to install seven new cold forging
systems that have been purchased over the last several years. When
the installation of this equipment is completed, the capacity of
the facility will be approximately $30,000,000 US per year," stated David Grant, CEO. "These additional machines are
critical to completing the rush military orders that the Company is
currently manufacturing."
"Omni-Lite's multifaceted support of the aerospace industry is
gaining traction as the Company continues to develop mission
critical components utilized on most of the aircraft currently
being manufactured. The Company has recently begun the development
of two additional components that are utilized in the robotic
assembly of modern composite aircraft," stated Allen Maxin, President.
The Company is also pleased to note that it has received the
Notice of Allowance from the US Patent Office accepting 12 of the
Company's claims for a new patent that is key to manufacturing
increasingly complex components at Omni-Lite. The Company has made
this significant and expensive modification to seven of the cold
forging systems in the Los Angeles
facility, including the sophisticated seven die system commissioned
in October of 2015. Due to the extent of these changes, these
modifications were completed in Japan, at the location of Omni-Lite's OEM
supplier. Utilizing this technology the Company has recently
delivered a key component to a US military customer.
Omni-Lite Industries Canada Inc. is a rapidly growing high
technology company that develops and manufactures mission critical,
precision components utilized by Fortune 500 companies including
Boeing, Airbus, Bombardier, Embraer, Ford, Borg Warner, Chrysler, the U.S. Military, and
Nike.
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.