Business
Omni-Lite receives new aerospace orders and custom equipment for military contract
Omni-Lite receives new aerospace orders and custom equipment for military contract.
About this update from Omni-lite Industries Canada Inc.
[{"type":"text","content":"\n\n\n\n\nOML-TSX VENTURE\n\nCERRITOS, CA, Oct. 19 /CNW/ - Omni-Lite Industries Canada Inc. is pleased\nto announce that it has received several follow on orders in the Aerospace\ndivision from a large customer in Southern California. In addition, this\ncustomer has moved up the delivery schedule for several orders originally\nplanned for 2007. These orders will now be delivered in the fourth quarter of\n2006. \"The Aerospace industry in the United States is continuing to grow at a\nsteady pace. With new orders for both civilian and military aircraft mounting,\nthe aerospace activities at Omni-Lite will continue to expand for the next\nseveral years,\" stated Paul A. Burkey, President and COO. \"The precision\nequipment that Omni-Lite operates is providing clear advantages in the\nmanufacturing of the complex components required to meet the needs of the\nlarge airframe manufacturers.\"\nOmni-Lite is also pleased to announce that it received on October 17,\n2006, the four cold-forging systems ordered in late 2005. These machines were\ncustom-built for a US Military project. Omni-Lite has recently completed the\nresearch and development efforts on the program. After the installation of\nrequired computer control systems, it is anticipated that these systems will\nbe in full production in about two weeks.\nTo meet the rapidly growing demands of our customers, the hours of\noperation at the Cerritos facility have been extended. The facility now opens\nat 4:00AM and closes at 10:30PM. On Saturdays, the facility closes at 12:00PM.\nIn early October, the Company was able to pay off the approximate\n$1.9MM US mortgage on the Cerritos facility. This mortgage was in place for\napproximately three years.\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\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\nWebsite: www.omni-lite.com\n\nTHE TSX-VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE\nINFORMAT...