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Omni-Lite Industries Reports New Contract Awards
Omni-Lite Industries Reports New Contract Awards Omni-Lite Industries Reports New ...
About this update from Omni-lite Industries Canada Inc.
[{"type":"text","content":"\n\n\n\nOmni-Lite Industries Reports New Contract Awards\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nOmni-Lite Industries Reports New Contract Awards\nCanada NewsWire\nCERRITOS, CA, Feb. 19, 2016\n\n\n\n• Aerospace Orders Set New Pace• Initiation of Long Term LOA in Automotive Division• New Bookings of Over $987,400 US\n\n\n\nCERRITOS, CA, Feb. 19, 2016 /CNW/ - Omni-Lite Industries Canada Inc. (the \"Company\") (TSXV:OML) (OTCQX:OLNCF) is pleased to note that it has received new contracts in the amount of $987,417 US. Of these orders, approximately 75% are in the Aerospace division, 24% are in the Specialty Automotive division, and 1% are in the Sports and Recreational division. This brings the total number of new orders announced in the last two weeks to $1,740,806 US.  Of these 59% are in the Aerospace division, 38% are in the Specialty Automotive division and 3% are in the Sports and Recreational division. At the US to CAD currency exchange rate of February 18, 2016, these orders would be worth approximately $2,402,000 CAD.  Some of these aerospace orders follow the initiation of the multi-year aerospace contract announced February 12, 2016. \n\n\"The Company has received over $1,000,000 US in new orders in the Aerospace division in the last two weeks,\" stated Allen Maxin, President. \"To continue growth in this expanding industry, Omni-Lite is currently negotiating another long term contract with a major tier one aerospace customer. It is anticipated that these negotiations will be completed in the first quarter.  Also of significance, a major automotive customer has requested production quantities of a part recently developed for a complex brake system. This component compliments a product currently in production.\"\n\nThe Company is also pleased to note that it has received the first purchase order for the multi-year automotive project first announced in May 2015. As noted in the Letter of Agreement (\"LOA\") initiating this project, if successful, the program is intended to continue approxim...