LATEST NEWS Steel
September 21, 2007
Empire Industries acquires Tornado Technologies
Empire Industries Ltd., a western Canadian steel fabrication and construction service provider, has struck a deal to acquire Tornado Technologies Inc. for $17.2 million in stock swap, giving Tornado stockholders about one-third of Empire.
Tornado makes and sells a range of products and custom steel fabrications for the oil and gas industry. It changed its name from Petro Field Industries Inc. on April 17 and has three factories in Alberta (Calgary, Stettler and Gadsby) and one in Houston.
The deal will create a company with about 800 employees in total.
“Empire is pleased to join these two high-quality businesses together as one public company,” said Empire CEO Guy Nelson. “The transaction increases our Alberta steel fabrication capacity and strengthens our balance sheet.”
DCN News Services
|MOST POPULAR STORIES|
|TODAY’S TOP CONSTRUCTION PROJECTS|
These projects have been selected from 371 projects with a total value of $1,936,826,394 that Reed Construction Data Building Reports reported on Thursday.
$134,000,000 Toronto ON Prebid
$128,250,000 North York ON Prebid
$100,000,000 Toronto ON Prebid
- Debate swirls over OCOT’s merit on its anniversary
- WaterGarden Worker
- Ontario to invest in cycling infrastructure
- U.S. construction labour concerns
- Compulsory certification in carpentry a “job killer”, says Kenney
- CaGBC to provide free LEED registration and certification for commercial projects in disaster-hit cities
- Economic cost of weather catastrophes is under appreciated: report
- Scotiabank sees slow growth in housing
- Photo Gallery: 2014 ACEC BC Awards of Excellence winners
- Journal of Commerce Preview for the week of April 21st, 2014
- Making Metro
- Crumbling roads a key election issue
- Early stages of concrete pump operator certification being developed in B.C.
- Legal battle over temporary foreign workers heats up
- Dive tower pushes formwork forward
- Understanding municipal strategy
- Calgary firm fined $35,000 for workplace injury
- B.C. labour minister calls for WorkSafeBC reforms
- B.C. prison proceeding