Empire Industries Reports 2015 Results
(firmenpresse) - WINNIPEG, ALBERTA -- (Marketwired) -- 04/18/16 -- Empire Industries Ltd. (TSX VENTURE: EIL) today reported its audited consolidated financial results for the year ended December 31, 2015. The audited consolidated financial statements and MD&A have been filed on SEDAR and can be viewed at or at .
"The $8.0 million of EBITDA that was generated in 2015, demonstrates that our strategy of recent years has been a good one," said Guy Nelson, CEO of Empire Industries. "While remaining profitable, we have also put the wheels in motion for Empire's continued growth and development. The creation of our Unlimited Attractions Demonstration Centre in Orlando, Florida will ensure that we remain on the cutting edge of new attraction development and add another revenue stream to further enhance our product offering in this business segment. Our proposed spin-out of Tornado Hydrovacs will allow Empire to increase its focus and capital allocation on its core business of Media Based Attractions, while allowing Tornado to capitalize on exciting opportunities in North America and China by leveraging its proprietary hydrovac technology and unique business strategy. Empire's shareholders as of the Record Date for this transaction, will have the ability to participate in this opportunity through their direct ownership of 54.5% of Tornado Global Hydrovacs Inc., which will become an independently operated, publicly listed company on the TSXV. The Thirty Metre Telescope partnership has decided to open up the question of where to locate the telescope and we remain confident the enclosure will be designed and built by Empire, albeit a little bit delayed. There are tremendous opportunities in front of us, and we are well positioned to capitalize on them. There are plenty of reasons to be bullish on our long term future."
Summary of 2015 consolidated annual results
Summary of 2015 Segmented Financial Results
Summary of 2015 Consolidated Financial Results
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 manufactures and sells hydrovac trucks and 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.
Contacts:
Empire Industries Ltd.
Guy Nelson
Chief Executive Officer
(416) 366-7977
Empire Industries Ltd.
Allan Francis
Vice President - Corporate Affairs and Administration
(204) 589-9301
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Datum: 18.04.2016 - 11:00 Uhr
Sprache: Deutsch
News-ID 464514
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Town:
WINNIPEG, ALBERTA
Kategorie:
Mining & Metals
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