Five new forging systems purchased

Omni-Lite Industries Canada Inc.

March 12, 2002

Mr. Tim Wang reports


Omni-Lite has purchased an additional five new cold forging systems for its new facility in Cerritos, Calif. The total list price of these machines is approximately $2,268,000 (U.S.). Given Omni-Lite's preferred customer status, the company was able to negotiate a discounted price and attractive financing terms.

This state-of-the-art equipment will provide the company with significant additional capacity to meet current and future customer's needs and has been selected to diversify the company's product offerings. The company will now be capable of offering larger products with more complex configurations. These machines will be delivered over the next seven months with the first two machines delivered in July of 2002. The total number of machines in the company's world-class facility will be 16; making this one of the world's leading centers for progressive cold forging technology and related material science activities.

On Jan. 31, 2002, Omni-Lite was again rated as a Preferred Supplier by Fairchild Fasteners Inc. The company received a 95-per-cent overall rating with a 100-per-cent acceptance rating for its components. "This is the second year in a row that Omni-Lite has achieved this level of acceptance from Fairchild Fasteners Inc.," stated John Sidener, quality assurance manager.

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