Omni-Lite Industries Announces Approximately $2.6 Million US In New Orders|
Omni-Lite Industries Canada Inc.
April 28, 2011
CERRITOS, CALIFORNIA, April 28, 2011 - Omni-Lite Industries Canada Inc. is pleased to announce that it has received new orders that cross all divisions of the Company. The total value of these orders is approximately $2,592,000 US. Of these new orders, 32 percent are in the Military division, 29 percent are in the Aerospace division, 23 percent are in the Specialty Automotive division and 16 percent are in the Sports and Recreational and Commercial divisions. These orders have been placed with the Company over the last four months.
"Since the fourth quarter of 2010, the Company has seen significant interest in the military and aerospace products offered by Omni-Lite," stated Allen W. Maxin, VP of Operations. "The Company expects additional revenue streams to commence in the second and third quarters of 2011 once commercial quantities of the new products developed in the Anti-Lock Brake and the Electric Vehicle programs begin shipping. Successful product reviews conducted with several major customers in the last month have lead to requests for nine new programs that would need engineering and prototype development completed in 2011. To aid in this aggressive development process, the engineering team has begun using a sophisticated finite element forging simulation software package from Simufact-Americas LLC. Given the backlog of new work that has been proposed by our customers, the Company's product development pipeline is full until at least early 2012."
Omni-Lite is a rapidly growing high technology company that develops and manufactures precision components utilized by several Fortune 500 companies including Boeing, Airbus, Alcoa, Ford, Caterpillar, Borg Warner, Chrysler, the U.S. Military, Nike, and adidas.
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.
For further information: Mr. Tim Wang, CFO, Tel. (562) 404-8510, or (800) 577-6664 (Canada and USA), Fax. (562) 926-6913, email: firstname.lastname@example.org
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