Empire Industries Ltd.

Empire Industries Ltd.

May 02, 2013 16:00 ET

Empire Industries Announces $30 Million Contract for a Major Theme Park in the United States

WINNIPEG, MANITOBA--(Marketwired - May 2, 2013) - Empire Industries Ltd. (TSX VENTURE:EIL) today announced that its Dynamic Structures business unit has been awarded a contract to manufacture a major amusement ride for one of the leading amusement park owners in the United States. This prestigious contract is valued in excess of $30 million and will be executed over the next two years.

"This contract is important for Empire because it is the third such award and is a confirmation of our ability to produce the most complicated, enjoyable and safe ride systems in the world," said Guy Nelson, Chief Executive Officer of Empire Industries. "These type of complex projects are where Dynamic Structures excels and we are delighted to have our customer endorse our capabilities through this contract award."

Dynamic Structures (www.empireds.com), a subsidiary of the Company, has already delivered well over 50 successful custom design/build amusement ride projects for major theme park customers around the world. Its sister company, Dynamic Attractions (www.dynamicattractions.com) focuses on providing its own, proprietary turn-key attraction products such as; Flying Theaters, Dark Rides, Automatic Guided Vehicle systems (AGVs), roller coasters and other unique media based attractions to this burgeoning market, particularly in Asia.

About Empire Industries Ltd.

Empire Industries operates in two market segments: Specialized Engineered Product Manufacturing and Steel Fabrication. The Company's business operations are focused on globally exploiting its considerable intellectual property in the entertainment business through the design and supply of world class amusement rides. The company also fabricates steel for the industrial, commercial and infrastructure market in Western Canada. Empire differentiates its steel fabrication business in Western Canada with a strategic partnership in the industrial maintenance services sector through its 49% equity stake in ACE Industrial Services, based in Fort McMurray and its 45% partnership and strategic alliance in Qiguang Dynamic Structures based in Guangdong Province, China. Empire's common shares are listed on the TSX Venture Exchange under the symbol EIL.

Reader Advisory

This news release contains forward-looking statements, within the meaning of applicable securities legislation, concerning Empire's business and affairs. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". These forward looking statements are based on current expectations, and are naturally subject to uncertainty and changes in circumstances that may cause actual results to differ materially. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking information is provided as of the date of this press release, and Empire assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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