Business
Omni-Lite announces three year aerospace contract
Omni-Lite announces three year aerospace contract.
About this update from Omni-lite Industries Canada Inc.
[{"type":"text","content":"\n\n\n\nOML-TSX VENTURE\n\n\nCERRITOS, CA, Feb. 6 /CNW/ - Omni-Lite Industries Canada Inc. is pleased\nto announce that it has signed an exclusive three year supply and development\ncontract with a large tier one Aerospace customer based in the United States.\nThe customer has an option to cancel the agreement with 90 days notice if a\nlower price can be obtained, however Omni-Lite will given the first right of\nrefusal to match the price. This contract covers the manufacture of 18\ncomponents currently being produced by Omni-Lite for this customer and\nOmni-Lite will be the exclusive supplier. It also includes a framework for the\naddition of new components that could be required in the future. \"This is the\nsecond long term supply contract that Omni-Lite has received from a large\naerospace customer in the last year,\" stated Tim Wang, CFO. \"This new contract\nis further evidence of the continued growth in the aerospace industry. It is\nanticipated that the aerospace industry will remain robust until at least\n2011.\"\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 and\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":1735,"tagName":"div"}]