Significant Increase in Orders|
Omni-Lite Industries Canada Inc
January 17, 2001
Omni-Lite is pleased to announce that it has received several new orders from existing customers for it's military and aerospace products. These orders have a total value of over $US 780,000 ($CDN 1,170,000) and add approximately CDN$.12/share to revenue for fiscal 2001. The majority of these orders represent increases in demand for these products above normally anticipated levels. These sales include the first Foreign Military Sale (FMS) of the 40mm link originally developed for the US Military and NATO. Also included are 14 new purchase orders from Fairchild. "Omni-Lite's strategy of providing a very high level of engineering service to Fortune 500 customers is now starting to pay dividends", stated David F. Grant, President and CEO, " The potential exists to continue expanding these and other contracts in the immediate future, further adding to the revenue growth of the company".
The company is also pleased to announce that it has purchased a 30,970 square foot facility in Cerritos, California for $US 2,000,000. The company anticipates that its operations will be consolidated in the new building by the second quarter of 2002, further enhancing production efficiencies. The facility is currently leased out to the previous ownership for $US 17,652 per month, adding $US211,824 ($CDN 317,736) to the company's revenue for 2001.
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