We are grateful for the high quality product you delivered throughout all phases of the project. The design, engineering and fabrication were proven to be impeccable. Your quality continued into the field with supervision that is second to none."
Patrick Doyle
Principal Mechanical Engineer, Walt Disney Imagineering
History
Empire Industries Ltd. came into being on July 1, 2006 and commenced trading on the TSX Venture Exchange under the stock symbol “EIL” on July 10, 2006. Each Empire subsidiary has a long track record of success in its own particular specialty or market going back as much as 100 years. Together the Empire companies benefit from one another’s expertise, while still delivering the business that made them successful in the first place.
2010
April – Fort McMurray subsidiary ACE Industrial Services (formerly Sorge’s Welding) was officially rebranded and marketing initiatives were launched to strengthen Empire’s position within the lucrative oilsands maintenance sector. ACE is a jointly-owned entity with the Athabasca Chipewayan First Nation group.
March – Operating lines and term debt owed to senior lenders were paid back through a $17.5 million facility after the consolidation of Empire's banking with Canadian Western Bank. The transaction improved the Company's working capital ratio from 1.1 to 1.4, greatly enhancing liquidity.
March – A domestic letter of credit facility was put in place with Export Development Canada and Canadian Western Bank to support Empire’s bonding commitments for major projects.
2009
October 5 – Tornado Technologies Inc. sold off its Combustion division for $10.1 million to Canerector Inc. The proceeds were largely used to pay off a senior lender. Tornado was renamed Petrofield Industries Inc. with three remaining divisions: Process Equipment (Petrofield), Laser & Waterjet Cutting (Empire Cutting), and Hydrovacs (Tornado Hydrovacs).
July – The Kingsway steel fabrication facility in Port Coquitlam, BC was sold and leased back for total proceeds of $9.5 million and a gain on sale of $1.5 million. The proceeds were largely used to fully repay term debt and one of Empire’s senior lenders.
Empire undertook a number of initiatives to deal with the global recession by reducing costs across its subsidiaries. These included staff lay-offs, reduced work weeks, salary rollbacks, terminations, and the curtailment of discretionary non-payroll expenses. Empire also consolidated operations into a smaller footprint (285,000 square feet vs. 400,000 square feet in 2008). In total the Company reduced operating expenses from $22.1 million to $17.7 million during 2009.
2008
October 31 – Sorge's Welding acquired 100% of Lemax Machine and Welding for $1.1 million plus working capital of $0.3 million. Lemax provides machine shop and welding services out of its 10,600 square foot shop in Ft. McMurray as well as field machining and welding services throughout the Wood Buffalo Region.
2007
December 31 – Empire acquired Parr Metal Fabricators for $1.1 million plus a long term lease on its 20,000 square foot shop and 3 acre facility. Parr Metal is a leading fabricator of pressure vessels, tanks, silos, pipe and spooling. Parr Metal is located in Winnipeg and is adjacent to Empire Iron's Construction Services division and structural steel fabrication facility.
November 30 – Empire acquired Tornado Technologies Inc. for $18 million. Approximately 1/3 of Tornado's business is steel fabrication for the oil & gas industry in Alberta. Another 1/3 of their business is selling proprietary combustion and production equipment to the oil and gas industry. Tornado's proprietary technology and innovative product line is starting to be exported to the US, Kazakhstan and the Middle East. The other 1/3 of the business comes from selling some of the most innovative and efficient Hydrovac and Vacuum trucks on the market. Again, these sales have predominantly been in Alberta but sales to Central Canada and the US are picking up momentum.
April 30 – Empire acquired KWH Constructors Ltd. and its Somerset Engineering division for $8 million. KWH/Somerset have a "world-class" reputation for installing complex bridges across North America and, recently, internationally for selected industrial clients. KWH/Somerset's reputation in bridge building will enhance the Empire group's ability to bid on the supply and install portion of steel bridges throughout Western Canada, coinciding with much needed investment by governments on this type of infrastructure.
April 17 – Empire acquired Dynamic Structures Ltd. for $11 million. Dynamic Structures has been in the steel fabrication business since 1926 and is a global leader in amusement ride systems and telescope observatories. Facilities included a 61,000 square foot shop. Dynamic Structures focuses on providing turn-key design, project management, fabrication, assembly, and installation services for its key markets.
2006
December 31 – Empire acquired 49% of Sorge's Welding Ltd. in Ft. McMurray, Alberta. Empire invested $2.1 million into creating one of the leading Aboriginal controlled, field installation and welding maintenance service providers in the Wood Buffalo Region.
August 31 – Empire Industries Ltd. acquired George Third & Son Ltd. for $9.4 million.
July 10 – Empire Industries Ltd. commenced trading on the TSX Venture Exchange under the stock symbol "EIL".
July 1 – Empire Iron completed a reverse takeover of Ryjencap Inc., a public capital pool corporation. Ryjencap’s name was changed to Empire Industries Ltd. (“Empire”).
May 9 – Empire Iron successfully completed a $6 million private placement.
1989
ACE Industrial Services founded
KWH Constructors founded
1985
Tornado Trucks founded
1981
Somerset Engineering founded
1980
Lemax Machine & Welding founded
1976
Parr Metal Fabricators founded
1968
Hopkins Steel Works founded
1966
Ward Industrial Equipment founded
1958
Empire Iron Works founded
1926
Dynamic Structures founded
