Business
Omni-Lite Industries highlights new order for Military Green Round Project and announces $905,000 US in new orders
OML-TSX VENTURE CERRITOS, CA, Dec. 29, 2011 /CNW/ - Omni-Lite Industries Canada Inc. ...
About this update from Omni-lite Industries Canada Inc.
[{"type":"text","content":"\n\n\n\n\n\nOML-TSX VENTURE\n\n\nCERRITOS, CA, Dec. 29, 2011 /CNW/ - Omni-Lite Industries Canada Inc. is\n pleased to announce that the military contract press released on\n November 30, 2011 is for production tooling and first article\n quantities of an additional version of the U.S. Military Green Round.\n This product will supplement the version of the Green Round that\n received FAAT (first article) approval in July 2011 and for which the\n Company received a production order in August 2011. The Company expects\n to have this additional version ready for FAAT approval by January 10,\n 2012 and would expect final approval of this new product three to five\n weeks after submission to the customer. At that time, Omni-Lite would\n be the only company approved for two cold forged Green Round products.\n\n\nOmni-Lite Industries is also pleased to announce that it has received\n several new orders of which 74% are in the Specialty Automotive and\n Aerospace Divisions. The total value of the new orders is approximately\n $905,000 US ($ 922,593 CDN). Of these new orders, 40 percent are in the\n Specialty Automotive division, 34 percent are in the Aerospace\n division, 23 percent are in the Military Division and 3 percent are in\n the Sports and Recreation division.\n\n\n\"The orders in the automotive market largely reflect an increase in\n sales of the Scorpion diesel engine product developed approximately two\n years ago. These new orders also include the development of a new\n engine component for a major agricultural equipment supplier. The\n aerospace sales are an indication of the increases forecast in mid 2011\n for the aerospace industry in Southern California,\" stated Tom\n Peterson, Investor Relations Manager.\n\n\nOmni-Lite Industries Canada Inc. is a rapidly growing high technology\n company that develops and manufactures precision components utilized by\n several Fortune 500 Companies including Boeing, Airbus, Alcoa, Ford,\n Caterpillar, Borg Warner, Chrysler, the U.S. Military, Nike, and\n adidas.\n\n\nExcept for historical information contained herein, this document\n contains forward-looking statements. These statements contain known and\n unknown risks and uncertainties that may cause the Company's actual\n results or outcomes to be materially different from those anticipated\n and discussed herein. \n...