Omni-Lite beams with new orders, hardware, patent
Omni-Lite Industries Canada Inc.
February 1, 2006
Omni-Lite Industries Canada Inc. has received several orders in its aerospace as well as its sports and recreation divisions. The aerospace orders are part of a multiyear arrangement with a large aerospace customer. The aerospace orders and the continuing upward trend in the company's aerospace division reflect the record number of aircraft purchases by the major airframe manufacturers in 2005. According to Bloomberg, over 2,000 orders were placed for Boeing and Airbus aircraft in 2005. It is anticipated that the demand for the aerospace products developed by the company will remain strong for the next two to three years.
On Jan. 24, 2006, the company received the two new cold-forging systems. These machines are being commissioned and will be immediately used in the aerospace and automotive divisions to deliver products currently on order. The company has ordered two additional cold-forging systems for delivery in February, 2007. The total cost of the systems was approximately $650,000 (U.S.). This build-out of the company is part of the Vision 2010 plan approved by the board of directors in December, 2005.
The company has also received a new U.S. patent covering an advanced process used in the production of several sophisticated products. This is the second patent to be awarded to Omni-Lite within the last 45 days. The company is currently preparing to submit several new patent applications covering material science and manufacturing processes developed by Omni-Lite and its associated companies.
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.
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INFORMATION CONTAINED HEREIN.
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