Business
Omni-Lite receives new Aerospace orders and purchases 12 new forging systems
Omni-Lite receives new Aerospace orders and purchases 12 new forging systems.
About this update from Omni-lite Industries Canada Inc.
[{"type":"text","content":"\n\n\n\n\nOMNI-LITE INDUSTRIES CANADA INC. \nOML-TSX VENTURE\n\nCERRITOS, CA, May 4 /CNW/ - Omni-Lite Industries Canada Inc. is pleased\nto announce that it has received two new orders in the Aerospace division.\nThese contracts are from two long-term customers based in Southern California.\nAs the major airframe manufacturers increase production to meet record order\nbacklogs, Omni-Lite anticipates further growth in the Aerospace division.\nThe Company is also pleased to announce that it has negotiated the\npurchase of 12 new cold forging systems with a list price of over\n$US 5,800,000. These systems will significantly increase the Company's\ncapabilities in that five of these state of the art machines will have six\nforming stations, allowing the development of more complex components. One of\nthe machines will be the largest ever ordered by Omni-Lite, increasing the\nCompany's capabilities in the larger size ranges. It is anticipated that three\nmachines will be delivered each year from 2007 to 2010. These machines will\nbring the total number of cold forging systems in the Company's California\nfacility to 32.\n\"These purchases represent the largest in the Company's history and\nfulfill our requirements as identified in our \"Vision 2010\" plan approved by\nthe Board of Directors in December 2005,\" stated Paul A. Burkey, President and\nCOO. \"This order solidifies Omni-Lite as one of the preeminent suppliers of\nthis technology in the world.\"\n\nOmni-Lite is a rapidly growing high technology company that develops and\nmanufactures precision components utilized by 100 companies including Boeing,\nAirbus, Alcoa, Daimler-Chrysler, the U.S. Military, Nike, adidas and Reebok.\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 THE TSX-VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE\n INFORMATION CONTAINED HEREIN.\n\n\n\n","length":2166,"tagName":"div"}]