WINNIPEG, MANITOBA--(Marketwired - Jan. 15, 2014) - Empire Industries Ltd. (TSX VENTURE:EIL) today reported two contract awards with different customers in United Arab Emirates, totaling $25 million. These two contracts represent a significant market presence in the U.A.E., which is one of the world's most important markets for media based attractions. One of the contracts is for the company's new special effects indoor roller coaster. The second contract is for one of the company's Dynamic Flying Theaters. Both contracts will largely be executed over the next eighteen months.
"Dynamic Attractions continues to accelerate Empire's efforts to bring its proprietary media-based attractions to market and has already established itself as one of the innovative leaders in the provision of media based attractions globally," said Guy Nelson, Chief Executive Officer of Empire Industries. "Since Dynamic Attractions' inception in 2011, this business unit has booked over $60 million of contracts of our own proprietary attractions."
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.
For more information about the Company, visit www.empind.com.
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.