Business
Omni-Lite receives new orders, new equipment and new patent
Omni-Lite receives new orders, new equipment and new patent.
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, Feb. 1 /CNW/ - The Company is pleased to announce that it\nhas received several orders in the Aerospace and Sports and Recreation\nDivisions. The Aerospace orders are part of a multi-year arrangement with a\nlarge Aerospace customer. The Aerospace orders and the continuing upward trend\nin the Company's Aerospace Division reflect the record number of aircraft\npurchases announced by the major airframe manufacturers in 2005. According to\nBloomberg, over 2000 orders were placed for Boeing and Airbus aircraft in\n2005. It is anticipated that the demand for the Aerospace products developed\nby the Company will remain strong for the next two to three years.\nOn January 24, 2006, the Company received the two new cold forging\nsystems mentioned in a press release of December 30, 2005. These machines are\nbeing commissioned and will be immediately utilized in the Aerospace and\nAutomotive Divisions to deliver products currently on order. The Company is\npleased to announce that it has ordered two additional cold forging systems\nfor delivery in February 2007. The total cost of the systems was approximately\nUS$650,000. This build out of the Company is part of the VISION 2010 plan\napproved by the Board of Directors in December 2005.\nThe Company is also pleased to announce that it has received a new U.S.\nPatent covering an advanced process utilized in the production of several\nsophisticated products. This is the second patent to be awarded to Omni-Lite\nwithin the last 45 days. The Company is currently preparing to submit several\nnew patent applications covering material science and manufacturing processes\ndeveloped by Omni-Lite and its associated companies.\nOmni-Lite is a rapidly growing high technology company that develops and\nmanufactures precision components utilized by 140 companies including Boeing,\nAirbus, Alcoa, Daimler-Chrysler, the U.S. Military, Nike, adidas and Reebok.\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 INFORM...