• New bookings of over $790,900 US
• Eight month revenues
approximately $4,896,100 US, Up
21%
• Production output increases 34% in first eight
months
CERRITOS, CA, Sept. 3, 2015 /CNW/ - Omni-Lite Industries Canada
Inc. (the "Company") (TSXV:OML) (OTCBB:OLNCF) is pleased to note
that it has received new contracts that exceed $790,900 US. Of these orders, approximately 52%
are in the Aerospace division, 40% are in the Specialty Automotive
division and 8% are in the Sports and Recreational division.
"As forecast, the Company continues to see growth in the aerospace
industry," stated Allen Maxin,
President. "The Company is continuing to develop new customers and
new products in this exciting and dynamic space."
The Company's revenues in the first eight months of fiscal 2015
were approximately $4,896,100
US. This represents an increase of 21% over revenues in the
first eight months of 2014. Over the same period, the Company's
production output increased by approximately 34%. Of particular
significance, military sales grew to 28% of total sales in the
eight month period.
The Company is pleased to announce that it has retained Cypress
Associates LLC ("Cypress") to advise the Company on its review of
potential strategic and financial opportunities. Cypress is a
nationally-recognized boutique investment banking firm, providing
mergers and acquisition expertise, restructuring advisory services,
and private placements of debt and equity securities. Cypress
has offices strategically situated in New
York City, San Francisco
and Austin. Chuck Samkoff is
a Managing Director of Cypress and also a director of Omni-Lite,
and as such will recluse himself from board decisions regarding
this review.
The Company is also pleased to note that Mr. Joseph Lee has joined the Company as a
consultant. Mr. Lee was recently the Director of Engineering of a
large aerospace company and brings over 53 years of experience to
Omni-Lite. "Joe has been instrumental in helping Omni-Lite develop
its engineering expertise in the aerospace industry for over 15
years", stated Michael Walker, VP of
R&D. "We, at Omni-Lite, look forward to continuing this long
and successful relationship."
Omni-Lite Industries Canada Inc. is a rapidly growing high
technology company that develops and manufactures precision
components utilized by Fortune 500 companies including Boeing,
Airbus, Bombardier, Embraer, Alcoa, Ford, 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.
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.