Omni-Lite Industries sees growth from both existing programs and new product
CERRITOS, CA, July 23, 2013 /CNW/ - The Company is pleased to announce
approximately $734,000 US ($758,000 CAD) in new orders that include three
divisions of the Company. Of these new orders, 51 percent are in the Sports
and Recreation division, 25 percent are in the Specialty Automotive division
and 24 percent are in the Aerospace division.
"This is an exciting period for Omni-Lite with growth being driven by the
expansion of existing product lines and the development of new programs with
our current customers. Of significance, the Company has been notified of a 15
percent increase in the product developed for the Ford Heavy Duty truck line.
It is also the Company's understanding that this program could increase by an
additional 25 percent in the next several months. The Company has also been
notified that the one of the components utilized in major brake program will
increase by approximately 35 percent next year followed by a further 26
percent increase in 2015. In the area of new program development, the Company
is in discussions with one of our major automotive customers to begin a
significant program that could lead to the dominance of certain markets by
Omni-Lite and our customer," stated Mike Walker, VP of R and D.
In the Aerospace division, on July 9, 2013, the Company signed a note of
agreement for a three year contract with Alcoa Fastening Systems Aerospace.
The arrangement provides an outline for a more detailed agreement whereby
Omni-Lite would manufacture certain key products for Alcoa. In early July, the
Company was also notified that some of the products manufactured in the Sports
and Recreation division have been chosen for several new footwear lines by
On July 11, 2013 Omni-Lite Industries successfully completed its annual
surveillance audit in support of ISO 9001-2008 Quality Management System
requirements. With this success, the Company's current certification continues
until August 2014. In July, the Company was also audited by the world's
largest airframe manufacturer together with one of our key aerospace customers.
Given the need to provide more technical support to the new programs underway
at Omni-Lite, the Company has hired two new graduates from the Mechanical
Engineering Technology program at the Southern Alberta Institute of
Technology. Both of the new employees are on a three year visa to work in the
US. They are currently enrolled in a two month in house training program to
expose them to the details of progressive cold forging and the Company's
quality and production management systems. At the end of this training program
these employees will join the production team on the floor to further enhance
the productivity of the Company.
Omni-Lite is a rapidly growing high technology company that develops and
manufactures precision components utilized by several Fortune 500 Companies
including Boeing, Airbus, Alcoa, Ford, Caterpillar, Borg Warner, Chrysler, the
U.S. Military, Nike, and 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
SOURCE Omni-Lite Industries Canada Inc.
Mr. Tim Wang, CFO Tel. No. (562) 404-8510 or (800) 577-6664 (Canada and USA)
Fax. No. (562) 926-6913, email:firstname.lastname@example.org
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CO: Omni-Lite Industries Canada Inc.
NI: CPR ELE
-0- Jul/23/2013 12:30 GMT
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