Omni-Lite Industries Receives Military Contract Valued at $1.24 Million US
CERRITOS, CA , April 21, 2016 /CNW/ - Omni-Lite Industries Canada Inc. (the "Company") (TSXV:OML; OTCQX:OLNCF) is pleased to announce that it has received follow-on orders for the continuation of the large scale military programs initially announced in November 2015 . The value of these orders is approximately $1,246,000 US or $1,585,850 CAD at the exchange rate of April 20, 2016 .
"The first deliveries begin in May and the shipments are expected to be completed in the fourth quarter of 2016. This condensed time frame may require that the Company put additional equipment on the program as the delivery requirements are up to 60% higher than those of the prior year," stated Allen Maxin , President. "These orders represent a tremendous vote of confidence in the state of the art engineering and manufacturing facility that the Company has built in Southern California and highlight our continued role with the U.S. Military."
Omni-Lite Industries Canada Inc. is a rapidly growing high technology company that develops and manufactures mission critical, precision components utilized by Fortune 500 companies including Boeing, Airbus, Bombardier, Embraer, Ford, Borg Warner , Chrysler, the U.S. Military, and Nike.
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Omni-Lite Industries Canada Inc.
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Contact:
Mr. David Grant, Founder, Chairman, and CEO, Tel. No. (714) 757-8863 or (800) 577-6664, Fax. No. (562) 926-6913, email: d.grant@omni-lite.com, Website: www.omni-lite.com
