Dynamic Structures is Awarded $10 Million Contract Award for Final Design Phase of Thirty Meter Telescope Enclosure
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/09/16 -- Empire Industries Ltd. (TSX VENTURE: EIL) today announced that its Dynamic Structures division has been awarded a contract from Canadian Commercial Corporation for the final design and production readiness phases of the Thirty Meter Telescope enclosure. The contract is valued at approximately $10 million, and is expected to be completed over the next 20 months.
The Thirty Meter Telescope (TMT) will be the most advanced and powerful optical telescope on Earth. When completed, TMT will enable astronomers to study objects in our own solar system and stars throughout our Milky Way and its neighboring galaxies, and forming galaxies at the very edge of the observable Universe. For more information about TMT, go to .
The TMT project is being undertaken by a consortium of universities, institutions and governments from the United States, Canada, Japan, China, and India. The TMT enclosure is one of several key deliverables that Canada will be contributing to the TMT partnership under which Canada will provide up to $243.5 million over 10 years to support Canada's participation in TMT.
Dynamic Structures has developed an innovative calotte shape for the TMT enclosure. The design significantly reduces the size and improves the speed of the enclosure, to effectively shield the telescope and instruments from temperature variations, unbalanced wind forces, snow and ice. The enclosure will rotate and track the telescope's field of view. When completed, the enclosure will be 55 metres high and be assembled from over hundreds of thousands of parts.
The enclosure design is expected to be executed between 2016 and Q1 2018. Subsequent phases of the Canadian enclosure project, including fabrication, shipping the enclosure to the project site, supervision of the enclosure's installation, and commissioning of the structure, have not yet been awarded.
"It is an honour to be selected to design one of the most sophisticated moving structures on the planet, said Guy Nelson, Chief Executive Officer of Empire Industries Ltd. "Dynamic Structures has been actively working on TMT since it was first conceived over ten years ago. We are looking forward to seeing it through to completion."
About Dynamic Structures
Dynamic Structures has been in operation since 1926 and was acquired by Empire Industries in 2007 and is a wholly owned division. It is one of the world's premier providers of movable (dynamic) structures. Dynamic Structures develops effective integration strategies to cover all aspects of complex structural, mechanical and electrical system projects right through design, manufacturing and on-site construction. They have an enviable reputation of providing these services to the global amusement ride industry and the global telescope observatory market. Dynamic Structures has designed and manufactured approximately half the world's large telescope enclosures. Dynamic Structures is located in Port Coquitlam, British Columbia. More can be learned about the company by visiting .
About Empire Industries Ltd.
Empire Industries manufactures specialized engineered products and sells these products domestically and internationally. The company has designed and engineered precision equipment for two highly specialized international markets; media based attractions and very large astronomical telescopes and enclosures. In addition, the company provides steel fabrication & installation services, primarily to the industrial, commercial and infrastructure market in Western Canada. The company 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.
More information about Empire Industries can be found by visiting .
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
Executive Chairman & CEO
(416) 366-7977
Empire Industries Ltd.
Allan Francis
VP Corporate Affairs & Administration
(204) 589-9301
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Datum: 09.08.2016 - 11:00 Uhr
Sprache: Deutsch
News-ID 487927
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