Empire Industries Ltd.
TSX VENTURE : EIL

Empire Industries Ltd.

March 04, 2015 07:00 ET

Empire Industries Reports Two New Contract Awards Valued at Over US$ 42 Million

WINNIPEG, MANITOBA--(Marketwired - March 4, 2015) - Empire Industries Ltd. (TSX VENTURE:EIL) today reported that its Dynamic Attractions business unit has been awarded two contracts valued in excess of US$ 42 million to supply two of its proprietary attractions to a major theme park in south Asia. These contracts will largely be executed over the next 36 months.

"This is our first project in south Asia, and it is one of our largest. This shows us that the demand for media-based attractions is still growing," said Guy Nelson, Empire's Executive Chairman and Chief Executive Officer. "These products represent the future for the world class theme parks, and our strategy of becoming an early entrant into this market is paying off."

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.

About Dynamic Attractions

Many of the most popular rides at the world's largest amusement parks have been engineered, fabricated and/or built by Dynamic Attractions and its sister company, Dynamic Structures. The media-based attractions company has a proven record of delivering rides with unmatched records of guest satisfaction, safety, quality and reliability. Dynamic Attractions is a subsidiary of Empire Industries Ltd. (TSX VENTURE:EIL).

For more information about the Company, visit www.empind.com.

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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