Omni-Lite announces three-year aerospace contract
Omni-Lite Industries Canada Inc.
February 6, 2007
Omni-Lite Industries Canada Inc. has signed an exclusive three-year supply and development contract with a large tier one aerospace customer based in the United States. The customer has an option to cancel the agreement with 90 days notice if a lower price can be obtained, however Omni-Lite will given the first right of refusal to match the price. This contract covers the manufacture of 18 components currently being produced by Omni-Lite for this customer and Omni-Lite will be the exclusive supplier. It also includes a framework for the addition of new components that could be required in the future.
"This is the second long-term supply contract that Omni-Lite has received from a large aerospace customer in the last year," stated Tim Wang, chief financial officer. "This new contract is further evidence of the continued growth in the aerospace industry. It is anticipated that the aerospace industry will remain robust until at least 2011."
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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INFORMATION CONTAINED HEREIN.
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