|Invest in high-tech Alberta companies
from The Calgary Herald
July 5, 1998
by Patrick Slater
Omni-Lite Industries Canada Inc. is a high-tech engineering and fabricating company supplying precision micro components to the automotive, defence and sports/recreation industries. Its biggest claim to fame was its light- weight spikes used in 15 gold-medal winning performances at the 1996 Olympics in Atlanta.
Made from an advanced ceramic material that compresses the track rather than sinking into it, the spikes transfer energy back to the athlete. As well as being used by Canadian speedster Donovan Bailey and U.S. rival Michael Johnson, Omni-Lite sells millions of spikes to Nike, Reebok and Adidas. Axle bolts for in-line skates and a composite bicycle rim that retains most of its braking power even while wet offer additional growth potential.
Omni-Lite has used the success of its spikes as a springboard into the automotive and aerospace industries. Its precision lightweight parts are used in the transmission of Chrysler cars and in the airbag systems of two European auto manufacturers. Other automotive applications such as lightweight fasteners could replace metal bolts and reduce the weight of a family sedan by as much as 50 kilograms.
Orders from four large new customers
for the track spikes plus orders for a second automotive component and
a U.S. military project lend additional support to the positive outlook.
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