|A Salute to the Alberta Stock Exchange
Key Players with the ASE
Insert in the Financial Post
October 24, 1997
by Kari Belanger, Sherry Butt, Lorena Johnson, Jennifer Isaac & Jacqueline Louie
A Calgary company that supplied the track spikes for Michael Johnson's gold-medal run in the 1996 Olympic Games recently amalgated with the publicly traded Omni-Lite Industries Corporation.
This completes the major transaction as required under the Alberta Stock Exchange's Junior Capital Pool program and, as such, requires final regulatory approval, says Omni-Lite chief executive David Grant.
The new company will become Omni-Lite Industries of Canada.
The private Omni-Lite was formed in 1992 to develop, produce and market specialized metal matrix and carbon fibre composite products.
Omni-Lite Industries Corporation later formed to pave the way for the transition to the ASE.
Since the Calgary-based Omni-Lite was born, company officials have watched their products race to the finish line on Olympic athletes and drive across the continent in Chrysler vehicles.
It is now close to signing a deal with the U.S. Army for another product.
"We create many sophisticated products for many different people," explains Grant from his California office.
Omni-Lite's products run the gamut from durable-but-lightweight golf spikes to quick-release axle systems for in-line skates.
Omni-Lite's composite track-spike system boasts one-third the weight of traditional steel track spikes, making them extremely attractive to Olympic-calibre athletes.
A precise steel valve system for automotive transmissions was also the work of Omni-Lite.
After years of research -- which resulted in a satellite office opening in Cerritos, Calif. -- Grant says the company is poised to focus on attracting new customers.
"We spent a lot of money on research and development in the early days," he says. "Now we're ready to provide shareholders with a good rate of return."
Future acquisitions are also being contemplated. Omni's head office continues to operate out of Calgary, while the golf spikes are manufactured in Sundre and distributed to Canadian Tire stores nationwide.
"We see ourselves being a part of the Alberta economy for a long time,"
said Grant, who was born and raised in Calgary.
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