Omni-Lite receives third military order at $162,400
Omni-Lite Industries Canada Inc.
May 20, 2009
Omni-Lite Industries Canada Inc. has received a third order for the product line mentioned in Stockwatch news on May 6 and May 8, 2009. This latest order is for approximately $162,400 ($140,000 (U.S.)).
"This is third order for this product line in the last 14 days," stated Allen E. Maxin, vice-president of operations. "This brings the total value of these orders to approximately $1,565,000 ($1,349,000 (U.S.))."
Omni-Lite is also pleased to note that it has received notification of the production schedule for a new green diesel component. This program has been in the research and development phase for approximately 24 months. The company entered production on May 11, 2009, after the first purchase order was received, and delivered the required product on May 15, 2009. Based on the schedule received by the company, additional purchase orders are expected in the late second quarter and early third quarter.
"Production should reach about 450,000 components per month by January, 2010," stated Paul A. Burkey, president and chief operating officer. "This program will add to the company's revenue stream for the next several years. The customer expects the program to increase to approximately 750,000 components per month as it reaches peak production in the next couple of years."
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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