Omni-Lite Industries Begins Production of Key Anti-Lock Brake Component
Omni-Lite Industries Canada Inc.
June 30, 2011
CERRITOS, CALIFORNIA, June 30, 2011 - Omni-Lite Industries Canada Inc. is pleased to announce that it has begun shipping in production quantities, to a long term supply agreement, the anti-lock brake component that it has been developing for a large Tier One automotive supplier. The customer expects this product to continue to increase in volume over the next two years and then continue at this ultimate level. Production of this component should continue through 2017. A second component for this brake system is currently in final testing and is scheduled to go into production in late 2011. "If these programs continue on the positive track that they have been on, Omni-Lite will be supplying multiple brake components for approximately 20% of all the vehicles produced in North America in 2012 and into the future," stated Allen W. Maxin, VP of Operations.
The Company is also pleased to announce that it has received three new development orders for components associated with the Hybrid/EV battery programs that it has been working on over the last 10 months. "After the customers review of the Company's achievements on the initial product, at a meeting at the Omni-Lite facility in early June, Omni-Lite received three new contracts for components utilized in these 21st century systems," stated Michael K. Walker, VP of R and D. "The Company is now working through the schedule for the completion of these new components. It is anticipated that all three new products will need to be in production by the fourth quarter of 2011."
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.
THE TSX-VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE INFORMATION CONTAINED HEREIN.
For further information: Mr. Tim Wang, CFO, Tel. No. (562) 404-8510, or (800) 577-6664 (Canada and USA), Fax. No. (562) 926-6913, email: email@example.com
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