Omni-Lite receives new orders valued at $544,000 (U.S.)
Omni-Lite Industries Canada Inc.
March 6, 2008
Omni-Lite Industries Canada Inc. has received several new orders in the military, aerospace and automotive divisions. The total value of these orders is approximately $544,000 (U.S.). Of particular significance is a new military contract that places Omni-Lite at the forefront of an ambitious development program for the United States Military. The company is scheduled to complete this research program by Oct. 30, 2008. If successful in the initial portion of the program, significant mid and long-term initiatives could develop for the company. In this effort, the company is proposing to use one of the patented processes that it developed for such complex programs. It is unlikely that this program will be successful without this novel technology.
In addition to these efforts, the company is developing a new military component for the large cold forging system being delivered in May, 2008.
"This oversized system is well suited for the groundbreaking research into this military component. The company feels that significant intellectual property could be developed in this program," stated Dan Mielke, manufacturing manager. "The project has been under way for approximately 10 months and will probably require an additional 18 months to complete. The long-term potential of this program justifies the significant resources that Omni-Lite is expending on this program."
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.
THE TSX VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE
INFORMATION CONTAINED HEREIN.
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