Empire Industries Ltd.
TSX VENTURE : EIL

Empire Industries Ltd.

October 28, 2014 07:00 ET

Empire Industries Reports $8 Million Contract Award in South Korea

WINNIPEG, MANITOBA--(Marketwired - Oct. 28, 2014) - Empire Industries Ltd. (TSX VENTURE:EIL) today reported a contract award for a media based attraction. The contract, valued at approximately $8 million, has been awarded by a major South Korean theme park to Empire's Dynamic Attractions business unit. This contract represents Dynamic Attractions' entry into the growing South Korean market and further confirms that the Asian market niche outlook is very good. The contract will largely be executed within the next eighteen months.

"South Korea has established itself as one of the most technologically sophisticated countries in the world." Said Guy Nelson, Empire's Chief Executive Officer. "The selection of our Dynamic Attractions branded attraction underscores the world-class nature of our media based attractions. The South Korean market has strong potential to drive growth in our media based attractions segment for years to come."

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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