Omni-Lite buys two more forging systems
Omni-Lite Industries Canada Inc.
December 30, 2005
Omni-Lite Industries Canada Inc. has purchased two new progressive forging systems. The total cost of these systems was approximately $800,000 (U.S.). These two large systems are in addition to the four machines mentioned in Stockwatch Dec. 21, 2005. It is anticipated that the two large systems will be delivered to Omni-Lite in early 2006 and operational by February, 2006. Both systems will be immediately used to support growth in the aerospace division.
This is a unique opportunity to expand the production base of the company during the current growth cycle being experienced in the aerospace market. Normal delivery times for this type of equipment are approximately 14 months.
"The company's goal is to purchase approximately 16 new progressive forging systems by 2010," stated Paul Burkey, president and chief operating officer. "These first two systems will help alleviate the growing backlog in the aerospace division." The company is also pleased to announce that it has received new contracts in the speciality diesel automotive market. Under these contracts approximately $50,000 (U.S.) worth of new products will be delivered in the first quarter of 2006
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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