Empire Industries Ltd.

Empire Industries Ltd.

August 08, 2013 07:00 ET

Empire Industries Announces $9.5 Million Contract in China With Asian Leader in Amusement Parks and Resorts

WINNIPEG, MANITOBA--(Marketwired - Aug. 8, 2013) - Empire Industries Ltd. (TSX VENTURE:EIL) today announced that its Dynamic Attractions business unit has been awarded a contract to manufacture a unique media-based attraction for an Asian leader in amusement parks and resorts for a park in China. The work associated with this prestigious contract is valued at approximately $9.5 million and will be executed over the next eighteen months.

"Dynamic Attractions continues to accelerate Empire's efforts to bring its proprietary media-based attractions to global markets, furthering the design/build initiatives of its sister company, Dynamic Structures," said Guy Nelson, Chief Executive Officer of Empire Industries. "Since Dynamic Attractions' inception less than two years ago, this business unit has booked nearly $50 million of contracts for our own proprietary attractions."

Dynamic Attractions (www.dynamicattractionsltd.com) has established itself as one of the innovative leaders in the provision of media based attractions globally.

About Empire Industries Ltd.

Empire Industries Ltd. manufactures specialized engineered products and sells these products domestically and in select international export markets. The company has developed, designed and engineered products for the rapidly growing, global, media based attractions market. The company also provides steel fabrication & installation services, primarily to the industrial, commercial and infrastructure market in Western Canada. The company also has two key strategic equity partnerships; a 49% ownership of ACE Industrial Services that operates in the oil sands industrial maintenance services market, and a 45% ownership of a Chinese joint venture company in the steel fabrication market in Asia. 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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