Omni-Lite Announces New Orders and Progress on Conversion of Forging System to Operate at Elevated Temperatures
LOS ANGELES, CALIFORNIA--(Marketwired - Feb. 6, 2017) - Omni-Lite Industries Canada Inc. (the "Company" or "Omni-Lite") (TSX VENTURE:OML)(OTCQX:OLNCF) is pleased to announce new sales orders of $1,004,550 US. Of these orders 54% are in the Aerospace division, 41% are in the Specialty Automotive division, and 5% are in the Sports and Recreational division. "Particularly important, are the large aerospace and automotive orders and positive market indications that the company has been receiving," stated Allen W. Maxin, President. "In addition, revenues in the first quarter will be positively impacted as deliveries on the military contract announced last year have restarted as of the first of the year."
"The Company is continuing the significant investment to modify one it's 35 progressive cold forging systems to operate at elevated temperatures. It is anticipated that the first tests of this system on aerospace titanium will begin approximately March 15, 2017. To complete the system as designed, the company is waiting for a custom build control system to arrive from Germany," stated Mike Walker, VP of R and D. "This unique monitoring system will allow the precision control of temperatures and strain during the forming process, a critical step in providing the highest quality components to this new and expanding marketplace."
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.
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