Omni-Lite Industries Receives First Production Order For The Green Round From Its U.S. Military Customer|
Omni-Lite Industries Canada Inc.
August 19, 2011
CERRITOS, CA, August 19, 2011 - Omni-Lite Industries is pleased to announce that it has received a first production order for the lead-free Green Round program from its Tier 1 military customer. This contract award comes after receiving the first article approval for this component in July of 2011. These products are to be delivered in the September to November timeframe of this year and represent the culmination of a four year development program undertaken by the US Military, our customer, and Omni-Lite.
In addition, Omni-Lite Industries is pleased to announce that it has received several new orders that include all divisions of the Company. The total value of all new orders received is approximately $1,727,000 US, including the contract for the Green Round mentioned above. Of these new orders, 37 percent are in the Military division, 28 percent are in the Sports and Recreation division, 20 percent are in the Aerospace division and 15 percent are in the Specialty Automotive Division. These orders have been placed with the Company over the last two months to three months.
"In addition to the successes mentioned above, the Company has been informed by one of our Tier 1 aerospace customers that due to the increasing demand for commercial aircraft, the Company should begin to see production increases of 30 to 35 percent over last year's production requirements. The Company is also continuing to see very strong demand for its Sports and Recreation products, which in some cases are approximately double the orders from previous years. Regarding the hybrid battery program, the Company has been notified, by our prime customer, that the components delivered in June 2011 have been successfully assembled into the substructure," stated Allen W. Maxin, President. "Fortunately most areas of business that the Company has chosen to pursue are all expanding simultaneously."
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. No. (562) 404-8510, or (800) 577-6664 (Canada and USA), Fax. No. (562) 926-6913, email: firstname.lastname@example.org
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