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Omni-Lite Industries Canada Inc. (TSX VENTURE:OML) (the "Company") is pleased to announce that it has received an initial order from the hybrid battery manufacturer mentioned in a press release in September of 2010.
The batteries manufactured by this U.S. firm are based on a propriety nanotechnology. This order is for the engineering, tooling and product development aspects of a program which will culminate in the submission of first article components for review and evaluation. "Due to schedule constraints, the customer has a short timeline for the development of this product and as a result the Company expects to be in production by the start of the third quarter of 2011. This product line is expected to continue to ramp up over the next three years," stated Michael K. Walker, VP of Research and Development. "If this program is successful, the customer has a second product line that it would like to develop with Omni-Lite in the latter part of the year."
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, John Deere, 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.
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Mr. Tim Wang, CFO
Tel. No. (562) 404-8510
(800) 577-6664 (Canada and USA)
Fax. No. (562) 926-6913
Copyright © Omni-Lite Industries Canada Inc.If you have a comment, please Contact us.
Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.
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