eResearch Initiates Coverage on Empire Industries with Speculative Buy Recommendation - Video Research Alert on InvestmentPitch.com

Vancouver, British Columbia--(Newsfile Corp. - August 15, 2014) - Toronto-based eResearch has initiated coverage on Empire Industries (TSXV: EIL) giving the company a speculative buy recommendation with an initial short-term target of $0.22, a premium of 47% over the $0.15 price on August 13th, the day the report was issued.

InvestmentPitch.com has produced a "video research alert" about Empire Industries based on this report. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Empire" in the search box.

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eResearch believes Empire is much-overlooked by investors, but excitement abounds in the Company's transformation to a global-leading designer and manufacturer of amusement park rides, better described as state-of-the-art virtual-reality media-based attractions.

The sale of new proprietary attractions has already started to take place, and company results are starting to reflect the first sales of these new rides, with a number of them being opened to the public over the next year in various locations around the world. Empire management expects this sector will gather momentum as more products are sold to additional clients.

The company also designs and has built half of the world's largest telescopes. In Hawaii, a consortium of countries and universities are involved in building the world's largest optical telescope, the Thirty-Meter Telescope, shown in this model, with the telescope structure and enclosure designed by Empire. To date, Canada has contributed $30 million but has not yet committed to spend a further $300 million to obtain a 20% interest in the endeavor. If Canada joins, Empire's Dynamic Structures division will build the iconic enclosure that it designed.

Empire manufacturers and sells Tornado hydrovac trucks for use by excavation service providers in western Canada. Since the company is already active in China, it could produce hydrovac trucks for the Chinese market. In this respect, the company could build its own plant to manufacture the trucks, or buy a Chinese company that already manufactures trucks, or joint venture with an existing Chinese company that builds back-ends for trucks.

The company's steel fabrication division manufactures the steel tanks for the hydrovac trucks. Although this division suffered lower volumes in 2013 and the 1st quarter of 2014, the remainder of 2014 should show sharp improvement as the order backlog is processed.

Empire Industries' restructuring and costcutting measures, implemented over the past several years, have led to a sales gain from a low of $50 million in 2010 to approximately $118 million in 2013, and an earnings turnaround from a loss of $0.11 per share in 2009 to positive earnings of $0.02 per share in 2013.

Analyst Bob Weir stated: "A concerted management effort has been made over the last 2 - 3 years to clean up the balance sheet, and focus the Company on its strategic initiatives. This is now starting to pay dividends, with improving profitability and a rising share price."

The company currently trades at $0.15, and with 254.6 million shares outstanding, the company is capitalized at $38.2 million.

For more information about Empire Industries, please visit the company's website www.empind.com, contact Guy Nelson CEO at 416-366-7977 email gnelson@empind.com.

For a copy of eResearch's report, or to access their extensive daily market commentary, please visit their website at www.eresearch.ca.

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