OML-TSX VENTURE
CERRITOS, CA, Jan. 2 /CNW/ - Omni-Lite Industries Canada Inc. is pleased to announce that it has received a follow on contract in the Military Division. This contract has a value of approximately $713,000. "The fact that the customer requires these products in the first quarter of 2007 should have a very positive effect on the Company's revenue early in 2007," stated Allen Maxin, VP of Operations Support. If completed by the end of Q1, this program will bring the total of this product delivered in a twelve-month time frame to approximately $1,728,000, an increase of 58% from the previous twelve-month period. This program, coupled with monthly sales in another Military program, will boost the revenue of the Military Division to approximately $1,970,000 for the same twelve-month period.
The Company has also received a purchase order, from an existing customer, for the tooling design and prototype development of a new product in the Speciality Automotive Division. Submittal of the initial components is expected to be completed in first quarter of 2007. If approval is obtained, full production is expected to begin in second quarter of 2007. The ultimate value of the production contract is estimated to be $614,000 annually.
Omni-Lite is a rapidly growing high technology company that develops and manufactures precision components utilized by approximately 100 companies including Boeing, Airbus, Alcoa, Daimler-Chrysler, the U.S. Military, Nike, adidas.
Except for historical information contained herein this document contains forward-looking statements. These statements contain known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein.
THE TSX-VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE
INFORMATION CONTAINED HEREIN.