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Omni-Lite receives new Military order and prepares for additional automotive order
Omni-Lite receives new Military order and prepares for additional automotive order.
About this update from Omni-lite Industries Canada Inc.
[{"type":"text","content":"\n\n\n\n\nOML-TSX VENTURE\n\nCERRITOS, CALIFORNIA, May 26 /CNW/ - Omni-Lite Industries Canada Inc. is\npleased to announce that it has received an order in the Military division.\nThis order, worth approximately $104,000 CDN, is a follow on order to that\nannounced on May 5, 2006. These products are to be delivered in the second\nquarter of 2006.\nOmni-Lite is also pleased to announce that it has been notified, by a\nTier One automotive customer, that a transmission component produced at\nOmni-Lite is being introduced into a series of new automotive platforms. This\ncould increase the requirement for this component by up to 75%, producing a\nsignificant revenue increase from this product line.\nTo further support the growth of the Company, as envisioned by the\n\"Vision 2010\" plan, Omni-Lite has purchased several major pieces of equipment\nto aid in the preparation of the tooling required in the production of the\nproducts manufactured in Cerritos, California. \"The addition of this equipment\nwill reduce the current costs and lead times required to obtain tooling from\nthird party vendors,\" stated Michael Walker, Vice President of Research and\nDevelopment. \"In the near future, this equipment will be supplemented by\nadditional equipment, that will enhance our in house ability to produce most\nof the tooling developed at Omni-Lite. By eliminating the 12 to 14 week delays\nexperienced with outside vendors will vastly accelerate the Company's ability\nto meet customer delivery expectations.\"\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\nTHE TSX-VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE\nINFORMATION CONTAINED HEREIN.\n\n\n\n","length":2189,"tagName":"div"}]