Omni-Lite Industries Receives Follow-on Military Contract Award Amidst New Orders Valued In Excess Of $500,000 CAD
Omni-Lite Industries Canada Inc.
CERRITOS, CALIFORNIA, September 11, 2014 –Omni-Lite Industries Canada Inc. is pleased to announce approximately $461,790 US ($507,563 CAD) in new orders. Of these orders, approximately 44% are in the Sports and Recreation division, 30% are in the Aerospace and Military divisions, and 26% are in the Specialty Automotive division.
The Company is also pleased to note that these contract awards include a follow-on order from a major U.S. military customer. The contract is related to a Research and Development program that was initiated in 2012. This phase two contract will be completed by October 15, 2014.
The Company has also been notified that the new military customer referenced in the Company's press release dated August 20, 2014 will be returning to Omni-Lite, within the next three weeks, for the completion of the first article qualification process for the component delivered under the aforementioned initial contract. This review is an essential step in the initiation of any production contract award for this program.
One of the Specialty Automotive orders mentioned above is for the production of a significant number of components for a new brake product. These parts will be utilized in an extensive system assembly trial program. "The Company is already manufacturing very large quantities of another component utilized in this system, which is incorporated in approximately 30% of all the automobiles manufactured annually in North America," stated Allen Maxin, President.
Omni-Lite Industries Canada Inc. 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information: David Grant, CEO, Tel. No. (562) 404-8510 x107, or (800) 577-6664 (Canada and USA), Fax. No. (562) 926-6913, email: email@example.com
|| Main Page | Investor Info | Profile / Divisions | Online Store | Contact Us | | Follow @OmniLiteInd ||