Empire Industries Reports $25 million in Contract Awards in U.A.E.
January 15 2014 - 6:00AM
Marketwired
Empire Industries Reports $25 million in Contract Awards in U.A.E.
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.
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.
Empire Industries Ltd.Guy NelsonChief Executive Officer(416)
366-7977gnelson@empind.comEmpire Industries Ltd.Allan FrancisVice
President - Corporate Affairs and Administration(204)
589-9301afrancis@empind.comwww.empind.com
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