Omni-Lite Announces New Orders for Critical Components Utilized in Robotic Assembly of Modern Aircraft and First Production R...
June 21 2017 - 7:30AM
Omni-Lite Industries Canada Inc. (TSXV:OML) (OTCQX:OLNCF) (the
“Company” or “Omni-Lite”) is pleased to announce that the aerospace
division of the Company is continuing to grow with an additional
development order announced on May 30, 2017. "This is the second
order for this family of components that the company has received
in the last three weeks," stated Vern Brown, Manufacturing Manager.
"Of particular significance, the company has been notified that it
will be receiving orders for several other components in this line
over the next month." These components offer critical features for
the new robotic assembly systems being developed for all modern
aircraft. In another milestone for Omni-Lite, this is the first
time the Company has manufactured all the metal subcomponents of a
multipart aerospace fastener. With this advancement, the customer
will basically be assembling and conducting final quality tests on
the completed product. This attests to the strategic influence and
presence that the company is gaining in the Aerospace Industry.
The Company is also pleased to announce that
several customers are continuing to evaluate the first Ti 6Al-4V
component produced on the hot forming test center at Omni-Lite. It
is expected that the qualification of these Titanium components
will take several months. During this period, the Company has begun
the setup of a new aerospace component manufactured from 17-4
stainless steel. It is anticipated that this will be the first hot
forging production run on this $900,000 US system. These products
are scheduled to be delivered to the customer next month. "This
program will further demonstrate the flexibility built into the
test center," stated Michael Walker, VP of R and D. "If things
continue as planned the Company could convert several of it's
existing cold forging systems to duplicate the hot forging
characteristics of the test center."
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.
For further information, please
contact
Mr. David Grant, CEOTel. No. (562)
404-8510 or (800) 577-6664 Cell. No. (714) 757-8863Email:
d.grant@omni-lite.com
Website: www.omni-lite.com
Reader Advisory
Except for statements of historical fact, this
news release contains certain "forward-looking information" within
the meaning of applicable securities law. Forward-looking
information is frequently characterized by words such as "plan",
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and other similar words, or statements that certain events or
conditions "may" or "will" occur. In particular, forward-looking
information in this press release includes, but is not limited to
the expected future performance of the Company. Although we believe
that the expectations reflected in the forward-looking information
are reasonable, there can be no assurance that such expectations
will prove to be correct. We cannot guarantee future results,
performance or achievements. Consequently, there is no
representation that the actual results achieved will be the same,
in whole or in part, as those set out in the forward-looking
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and estimates of management at the date the statements are made,
and are subject to a variety of risks and uncertainties and other
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the results to differ materially from those expressed in the
forward-looking information include, but are not limited to:
general economic conditions in Canada, the United States and
globally; industry conditions, governmental regulation, including
environmental regulation; unanticipated operating events or
performance; failure to obtain industry partner and other third
party consents and approvals, if and when required; the
availability of capital on acceptable terms; the need to obtain
required approvals from regulatory authorities; stock market
volatility; competition for, among other things, capital, skilled
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Readers are cautioned that this list of risk factors should not be
construed as exhaustive.
The forward-looking information contained in
this news release is expressly qualified by this cautionary
statement. We undertake no duty to update any of the
forward-looking information to conform such information to actual
results or to changes in our expectations except as otherwise
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