Omni-Lite Industries sees growth from both existing programs and new product developments
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 Nike, Inc.
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
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 CONTAINED HEREIN.
SOURCE Omni-Lite Industries Canada Inc.