Business
Omni-Lite acquires two new progressive forging systems to support aerospace growth and receives new automotive contracts
Omni-Lite acquires two new progressive forging systems to support aerospace growth and receives new automotive contracts.
About this update from Omni-lite Industries Canada Inc.
[{"type":"text","content":"\n\n\n\n\nOML-TSX VENTURE EXCHANGE\n\nCERRITOS, CA, Dec. 30 /CNW/ - Omni-Lite is pleased to announce that it\nhas purchased two new progressive forging systems. The total cost of these\nsystems was approximately US $800,000. These two large systems are in addition\nto the four machines mentioned in the press release of December 21, 2005. It\nis anticipated that the two large systems will be delivered to Omni-Lite in\nearly 2006 and operational by February 2006. Both systems will be immediately\nutilized to support growth in the Aerospace Division.\nThis is a unique opportunity to expand the production base of the company\nduring the current growth cycle being experienced in the Aerospace market.\nNormal delivery times for this type of equipment are approximately 14 months.\n\"The Company's goal is to purchase approximately 16 new progressive\nforging systems by 2010,\" stated Paul Burkey, President and COO. \"These first\ntwo systems will help alleviate the growing backlog in the Aerospace\nDivision.\"\nThe Company is also pleased to announce that it has received new\ncontracts in the Speciality Diesel Automotive Market. Under these contracts\napproximately US $50,000 worth of new products will be delivered in the first\nquarter of 2006.\n\nOmni-Lite is a rapidly growing high technology company that develops and\nmanufactures precision components utilized by 140 companies including Boeing,\nAirbus, Alcoa, Daimler-Chrysler, the U.S. Military, Nike, adidas and Reebok.\n\nExcept for historical information contained herein this document contains\nforward-looking statements. These statements contain known and unknown risks\nand uncertainties that may cause the company's actual results or outcomes to\nbe materially different from those anticipated and discussed herein.\n\n THE TSX-VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE\n INFORMATION CONTAINED HEREIN.\n\n\n","length":1953,"tagName":"div"}]