Omni-Lite announces new orders and progress on key additional military program
LOS ANGELES, Nov. 30, 2016 /CNW/ - Omni-Lite Industries Canada Inc. (the "Company" or "Omni-Lite") is pleased to announce new sales orders of over $916,000 US. Of these orders, 50% are in the Specialty Automotive division, 45% are in the Aerospace division, and 5% are in the Sports and Recreational division. This brings the total value of the new orders announced in 2016 to over $7.7 million US or approximately $10.4 million CDN, at the exchange rate of November 29, 2016. "Particularly important, the Company has received notice from a large military customer, that a key product developed in a critical program has passed the live fire performance tests required before a contract can be awarded and production can begin," stated Allen W. Maxin, President.
"To open new markets and drive growth well into the future, the company has begun a large scale development program to convert one of its existing multi-station forming machines into a system that operates at elevated temperatures. This will facilitate the forging of the super materials of the future," stated Mike Walker, VP of R and D. "This market is growing quickly as modern aircraft, automobiles, and other transportation systems demand lighter and stronger components in their design."
Omni-Lite Industries Canada Inc. is a rapidly growing high technology company that develops and manufactures mission critical, precision components utilized by Fortune 100 companies including Boeing, Airbus, Bombardier, Embraer, Alcoa, Ford, Borg Warner, Chrysler, John Deere, the U.S. Military and Nike.