Business
Omni-Lite Industries announces new orders and increases capacity
OML-TSX VENTURE CERRITOS, CA , Nov. 13, 2013 /CNW/ - Omni-Lite Industries Canada Inc...
About this update from Omni-lite Industries Canada Inc.
[{"type":"text","content":"\n\n\nOML-TSX VENTURE\n\n\nCERRITOS, CA, Nov. 13, 2013 /CNW/ - Omni-Lite Industries Canada Inc. is\n pleased to announce approximately $773,815 US ($811,800 CAD) in new\n orders that include three divisions of the Company. Of these new orders\n 52 percent are in the Specialty Automotive division, 43 percent are in\n the Aerospace division and 5 percent are in the Sports and Recreation\n division.\n\n\nTo meet the production requirements for the growing orders in the\n Specialty Automotive and Aerospace divisions, the Company has hired\n three experienced progressive cold heading operators, all with an\n aerospace background. In addition, the operating hours of the factory\n have been increased from 17 hours per day to 18 hours per day, Monday\n to Friday. On a temporary basis, hours on Saturday have been increased,\n allowing the factory to open at 0500 hrs and close at 1900 hrs.\n\n\nTo meet the increases in demand in the Automotive and Aerospace markets\n expected in 2014, the Company has ordered an additional Sodick\n Electrical Discharge Machining system for delivery in January.  This\n system has some enhanced features improving its performance over the\n existing Sodick system. This new system will continue to allow the\n Company to produce the complex tooling required in the progressive cold\n forging process without having to rely heavily on outside vendors. This\n unit will ensure that the Company can maintain a quick turnaround for\n the tooling required, resulting in significant production benefits. The\n total cost of this system with all the options and specialty handling\n systems ordered by the Company is approximately $230,000 US.\n\n\n\"Throughout 2013 the Company has been striving to improve productivity\n and hence raise corporate gross margins back to historical levels,\"\n stated David F. Grant, CEO. \"Through this process the gross margin has\n risen from 55% at the end of 2012 to about 58% at the end of Q3 2013.\"\n\n\nOmni-Lite is a rapidly growing high technology company that develops and\n manufactures precision components utilized by several Fortune 500\n Companies including Boeing, Airbus, Alcoa, Ford, Caterpillar, Borg\n Warner, Chrysler, the U.S. Military, Nike, and adidas.\n\n\nExcept for historical information contained herein this document\n contains forward-looking statements. These st...