Omni-Lite receives new contracts
Omni-Lite Industries Canada Inc. OML-TSX VENTURE
August 25, 2005
CERRITOS, CA, Aug. 25 /CNW/ - Omni-Lite is pleased to announce that it
has received a letter of intent from an existing customer for the development
of components in the automotive division for sale to a significant new end
user. The new products would be expected to add approximately US$500,000/year
to revenue. Under normal product cycles, the program would continue for 5 to
7 years. The purchase order confirming the first deliveries of these products
is expected in approximately 1-2 weeks.
The Company is also pleased to announce that it has received three new
contracts for the engineering development of three new components for an
existing aerospace customer. The development contracts are valued at
US$67,000.
The Company has also submitted the qualification components for an
additional transmission part for an existing customer. Qualification is
expected to be received in the fourth quarter of 2005.
"We are very pleased that many of our existing customers are choosing to
work with the Company on the development of new components," stated Paul
Burkey, President and COO. "This support has enabled the Company to grow very
quickly and should support additional growth in the years to come."
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.
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