Omni-Lite receives new orders in the Aerospace, Automotive and Sports and Recreational Divisions

About this update from Omni-lite Industries Canada Inc.

[{"type":"text","content":"\n\n\n\nOML-TSX VENTURE\n\n\nCERRITOS, CA, July 3 /CNW/ - Omni-Lite Industries Canada Inc. is pleased\nto announce that it has received several new orders in the Aerospace,\nAutomotive, and Sports and Recreational Divisions. The total value of these\norders is approximately $908,000 US. Of particular significance, the Company\nhas received the first of several potential contracts for the development of\nsophisticated components for antilock brake and vehicle stabilization systems.\nA second contract is expected this week. This work is being undertaken in\nconjunction with a European firm with revenues of over $50 billion US/year.\n\n\nThe Company is also pleased to report that it has taken delivery of the\nlargest machine that has been ordered to date. This machine will be utilized\non a military program. If successful, this development effort will place\nOmni-Lite at the forefront of a modernization effort underway for a critical\nmunitions system employed by the US Marine Corps.\n\n\n"This oversized system is well suited for the groundbreaking research\ninto this military component. The Company feels that significant intellectual\nproperty could be developed in this program," stated Dan Mielke, Manufacturing\nManager. "The project has been under way for approximately 14 months and will\nprobably require an additional 14 months to complete. The long-term potential\nof this program justifies the significant resources that Omni-Lite is\nexpending on this program. It is unlikely that this program will be successful\nwithout this novel technology being developed at Omni-Lite."\n\n\nOmni-Lite is a rapidly growing high technology company that develops and\nmanufactures precision components utilized by 50 companies including Boeing,\nAirbus, Alcoa, Chrysler, the U.S. Military, Nike, adidas and Reebok.\n\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\nTHE TSX-VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE\n\n\nINFORMATION CONTAINED HEREIN.\n\n\n","length":2310,"tagName":"div"}]

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