Omni-Lite Receives $2.8 Million US Contract From Major Automotive Customer|
Omni-Lite Industries Canada Inc.
CERRITOS, CALIFORNIA, January 12, 2015 – Omni-Lite Industries Canada Inc. (TSXV: OML) is pleased to announce that it has received a two year contract from a major Tier 1 Automotive supplier. Based on current projections from this customer, this contract is estimated to have a value of approximately $2.8 million US ($3.3 million CAD) and will extend the Company's current deliveries of this product line until the end of 2016.
“This product will be utilized in approximately 30% of the cars manufactured in North America annually,” stated Allen W. Maxin, President. “As a result, future projections by our customer show further increases in demand, which Omni-Lite is well prepared to meet.”
Initially, this program will contribute sales of approximately $314,000 US ($372,000 CAD) per quarter to the Company's revenue stream.
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
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