New Contracts w/ DaimlerChrysler and SNC Technologies|
Omni-Lite Industries Canada Inc.
July 9, 2001
CERRITOS, CALIFORNIA. July 10, 2001- Omni-Lite is pleased to announce that it has received a contract to develop a third component that will be utilized in the transmissions of DaimlerChrysler automobiles. This contract represents the continuation of a project that has resulted in the delivery of components for approximately 8,000,000 vehicles since 1996. This transmission component can not be replaced in the transmission and as a result is rigorously designed and tested to ensure it's performance over the life of the vehicle.
Omni-Lite has also been awarded a contract to deliver the first production components for a development effort recently completed for SNC TECHNOLOGIES INC. of Canada. This innovative military product incorporates a series of technological advancements that represent leading edge technology. It is felt that this family of products will have worldwide application.
"Omni-Lite has met our challenge by developing a tight-tolerance part for a leading edge product. We at SNC TECHNOLOGIES confidently look forward to working with their team on an ongoing basis to develop and produce similar parts", explained David Martin, Procurement Manager with SNC TECHNOLOGIES INC. Omni-Lite and SNC are currently developing other products based on the technology developed in these initial projects.
"Both of these contracts represent significant developments for the company", stated David F. Grant, President and CEO. " The company's advanced materials technology, coupled with a high level of engineering support should lead to other contracts in the near future".
Omni-Lite is a rapidly growing high technology company that develops and manufactures precision components utilized by 200 companies including GM, Ford, Mazda, Daimler-Chrysler, the U.S. military, Nike, Adidas and Reebok.
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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