Omni-Lite Industries wins $344,000 of orders
Omni-Lite Industries Canada Inc.
August 17, 2006
Omni-Lite Industries Canada Inc. has received three orders in the aerospace division. One order is part of a continuing procurement with an existing customer. The second order is from a new customer in Southern California and is subject to a preproduction meeting to be held at the Omni-Lite site in the next week. This customer is a large tier one supplier to the aerospace industry. The third order is from an existing customer that has developed a unique product line, with the support of Omni-Lite, over the last three years. It is anticipated that the above-noted products will be delivered in the third and fourth quarters of 2006. The company has also received two new orders in the sports and recreation division. The total value of these new orders is approximately $344,000.
Omni-Lite has been informed, by a large tier one automotive supplier, that two of the transmission components delivered by Omni-Lite are being incorporated into several additional vehicle platforms. One component, that the company has delivered in production quantities for the past two years, is being scaled up beginning in the third and fourth quarters of 2006. The other component must pass a final performance evaluation test. Omni-Lite has received the production order for these components. It is anticipated that this test can be completed in the next two months. If successful, Omni-lite has been notified that the customer would sign a three-year contract with Omni-Lite to deliver these components. The successful completion of these negotiations would bring the company's annual sales of all transmission components to approximately $1.2-million
The company has been notified that the four new machines, ordered approximately nine months ago, to be used in the military program announced in a press release in Stockwatch on Dec. 21, 2006, are to arrive in the Cerritos facility in September. "The recent completion of the majority of the research and development activities, on this project, has allowed the company to reach production quantities in the last two months," stated Michael Walker, vice-president of research and development. "These additional machines will allow the company to significantly increase production volumes to meet the customer's requirements."
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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