Sportswear giant Nike Inc has extended its contract with sports and recreation component supplier Omni-Lite Industries Canada Inc for a further three years.

The agreement, which is worth around C$3.120 million to Omni-Lite, means that the two companies will now work together until December 2004.

"Since 1994 Nike has utilised Omni-Lite's components in its track and field product line. This contract will ensure that our products will be utilised for many years to come," stated Tim Wang, sales and business development manager.