Business
Omni-Lite receives new automotive and sports and recreation orders
Omni-Lite receives new automotive and sports and recreation orders.
About this update from Omni-lite Industries Canada Inc.
[{"type":"text","content":"\n\n\n\n\nOML-TSX VENTURE\n\nCERRITOS, CA, July 28 /CNW/ - Omni-Lite Industries Canada Inc. is pleased\nto announce three new orders in the Automotive Division. These orders, for\ncomponents utilized in the specialty automotive market, have a value of\napproximately $185,000 CDN. In addition, the Company has received four new\norders in the Sports and Recreation Division worth approximately $265,000 CDN.\nThe total value of these new orders is approximately $450,000 CDN. These\norders are to be delivered in Q3 and Q4 of 2006.\nAs part of the \"Vision 2010\" plan to improve operating efficiencies and\nshorten customer deliveries while reducing manufacturing costs, the Company\nhas purchased an automated Electrical Discharge Machining System (EDM) for the\nproduction of complex dies and other tooling. \"This new $200,000 CDN system\nwill allow Omni-Lite to produce many of the complex components utilized in the\nmanufacturing process,\" stated Paul A. Burkey, President and COO. \"By\neliminating the long lead times associated with the third party delivery of\nthese specialized components, customer deliveries will be markedly improved.\nMany of these third party lead times have grown to 8 to 12 weeks. With this\nnew system Omni-Lite can now complete these tasks in hours.\"\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 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\nTHE TSX-VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE\nINFORMATION CONTAINED HEREIN.\n\n\n\n","length":1977,"tagName":"div"}]