Business
Omni-Lite announces additional large military contract
Omni-Lite announces additional large military contract.
About this update from Omni-lite Industries Canada Inc.
[{"type":"text","content":"\n\n\n\nOML-TSX VENTURE\n\n\nCERRITOS, CA, Jan. 2 /CNW/ - Omni-Lite Industries Canada Inc. is pleased\nto announce that it has received a follow on contract in the Military\nDivision. This contract has a value of approximately $713,000. \"The fact that\nthe customer requires these products in the first quarter of 2007 should have\na very positive effect on the Company's revenue early in 2007,\" stated Allen\nMaxin, VP of Operations Support. If completed by the end of Q1, this program\nwill bring the total of this product delivered in a twelve-month time frame to\napproximately $1,728,000, an increase of 58% from the previous twelve-month\nperiod. This program, coupled with monthly sales in another Military program,\nwill boost the revenue of the Military Division to approximately $1,970,000\nfor the same twelve-month period.\n\n\nThe Company has also received a purchase order, from an existing\ncustomer, for the tooling design and prototype development of a new product in\nthe Speciality Automotive Division. Submittal of the initial components is\nexpected to be completed in first quarter of 2007. If approval is obtained,\nfull production is expected to begin in second quarter of 2007. The ultimate\nvalue of the production contract is estimated to be $614,000 annually.\n\n\nOmni-Lite is a rapidly growing high technology company that develops and\nmanufactures precision components utilized by approximately 100 companies\nincluding Boeing, Airbus, Alcoa, Daimler-Chrysler, the U.S. Military, Nike,\nadidas.\n\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\nTHE TSX-VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE\n\n\nINFORMATION CONTAINED HEREIN.\n\n\n","length":1988,"tagName":"div"}]