Empire Industries announces further details on its Co-venture Initiative

WINNIPEG, August 31, 2017 – Empire Industries Ltd. (TSX-V: EIL) is pleased to announce more details related to how the August 28, 2017 announced Co-Venture Initiative is going to proceed to completion.

The parties to the letter of intent dated August 28, 2017 (the “Letter of Intent”) are Empire Industries Ltd. (“Empire”), Excellence Raise Overseas Ltd. (“EROL”), and Dynamic Entertainment Group Ltd. (“DEGL”).  The initial transactions to be completed are the Subscription Receipt Financing and the Rights Offering.  As such, Empire is in the process of:

The Subscription Receipt Financing and the Rights Offering are more fully described in the August 28, 2017 news release.  The series of transactions described in the Letter of Intent, including the Subscription Receipt Financing and the Rights Offering, are subject to regulatory approval.

Investor Presentation Update

Empire has also uploaded an investor presentation to its website, which includes a summary of the Co-venture initiative, including some helpful organization charts that graphically explain the proposed financing transactions.  This presentation can be viewed at www.empind.com.

Annual Meeting

Empire’s Annual Shareholders’ Meeting is scheduled for 10:00AM on Monday, September 18, 2017 at the Ivey Tangerine Leadership Centre, 130 King St. West, Exchange Tower, Ground Floor, Toronto, ON, M5X 1A9.  All shareholders and interested parties are welcome to attend.

About Empire Industries Ltd.

Empire focuses on designing, supplying, and installing premium theme park, media-based attractions and ride systems for the global entertainment industry. Empire also uses these same turn-key integration services for special projects such as large optical telescopes and enclosures. Through Empire’s execution of its strategy over the years, Empire owns several non-entertainment investments that it seeks to optimize and liquidate at the appropriate time.  Empire’s common shares are listed on the TSX Venture Exchange under the symbol EIL.

Guy Nelson

Chief Executive Officer

Phone:  (416) 366-7977

Email:  gnelson@empind.com

Allan Francis

Vice President – Corporate Affairs and Administration

Phone:  (204) 589-9301

Email:  afrancis@empind.com

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 statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Although Empire believes these statements to be reasonable, no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. Such statements include statements with respect to: (i) the closing of the Subscription Receipt Financing and the Rights Offering and that the conditions for completion of the same including regulatory approval will be met.  Actual results could differ materially from those anticipated in these forward-looking statements as a result of prevailing economic conditions, and other factors, many of which are beyond the control of Empire. The forward-looking statements contained in this news release represent Empire’s expectations as of the date hereof, and are subject to change after such date. Empire disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable securities regulations.  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.

Empire Industries Announces $31 million Co-venture Initiative

Co-venture attraction companies to be set up in North America and China

WINNIPEG, August 28, 2017 – Empire Industries Ltd. (TSX-V: EIL) is pleased to announce that it has entered into a letter of intent to structure and capitalize $31 million of equity in co-venture attraction companies. These co-venture attraction companies will partner with tourist-based locations to co-own and operate Empire’s proprietary Dynamic Attractions’ Flying Theatre and such other world class, proprietary attractions, at key tourist venues in North America and China.

Highlights

The parties to the letter of intent dated August 28, 2017 (the “Letter of Intent”) are Empire Industries Ltd. (“Empire” or the “Company”), Excellence Raise Overseas Ltd. (“EROL”), and Dynamic Entertainment Group Ltd. (“DEGL”).  At the time of signing the Letter of Intent, each of EROL and DEGL dealt at arm’s length to Empire. The Letter of Intent calls for:

“The Co-venture business is a natural extension of Empire’s business model, from manufacturer of ride systems, to designer of turnkey media-based attractions, and now to co-own and operate some of its own world class attractions in prime locations in North America and China,” said Guy Nelson, Chief Executive Officer of Empire.  “The co-venture strategy is designed to generate a recurring revenue component to our business model, augmenting the project-based business of manufacturing and selling ride systems and attractions through its wholly-owned subsidiary, Dynamic Attractions Ltd.  The proposed transactions pave the way for Empire to enter this exciting and lucrative business.”

DEGL’s mission will be to partner with North American tourist venues to co-own and operate Dynamic designed and themed attractions in North American venues.  The proposed capital investment in DEGL is sufficient to complete one such business venture.  DTSH intends to do the same with Chinese tourist venues and will be capitalized sufficiently to complete one such business venture in China.

Empire will continue to serve its markets for ride systems and attractions through its wholly owned subsidiary Dynamic Attractions.  Assuming Empire meets its investment obligations, it will own 73.5% of DEGL, which will in turn own 30% of DTSH and DTHK.  DEGL will have an option to increase its ownership in DTSH and DTHK to 51.4% at an incremental cost of approximately $11.1 million.  In addition, DEGL, DTHK and DTSH will benefit by being the exclusive licensee of co-venture attractions from Empire on preferential commercial terms.”

In order to fund its $12 million investment in the DEGL Private Placement, Empire intends to proceed with the following:

The series of transactions described in the Letter of Intent are subject to regulatory approval.

EROL is controlled by James Chui.  Mr. Chui will be appointed to the Empire Board of Directors when the common shares of Empires are released to EROL pursuant to the Subscription Receipt Agreement (defined below).  Mr. Chui has been Chairman and CEO of EROL since 2013.  Mr. Chui was instrumental in arranging the private placement financing that led to the spinout of Tornado Global Hydrovacs Ltd. (TSXV:TGH) (“Tornado”) from Empire and serves as Tornado’s Executive Chairman.  In 2010, Mr. Chui was the co-founder and remains an officer and Director of HIP Energy Corp., HIP Energy Resource Limited and HIP Technology Limited. He has been Chairman and President at Sino-Pacific Agency Partners (Hong Kong) Limited since 2010. He also serves as a Director of Beijing You Peng Technology Co., Ltd. which is one of the largest on-line video content (OTV) platforms in China.  He is also the Chief of Business Development of United Biomedical Group Inc., and also serves as the supervisor and Director of its subsidiary United BioPharma Inc. Mr. Chui graduated from the Shanghai University of Science and Technology in 1985 with a Bachelor of Material Science.

Transaction Details

Empire Rights Offering

Empire intends to complete a rights offering for a maximum gross proceeds of $5,100,000 (the “Rights Offering”).  Subject to regulatory approval, it is the intention of Empire that each Right will be exercisable into one (1) Common Share of Empire at $0.50 per Common Share (the “Subscription Price”).  The closing of the Rights Offering is conditional on the prior closing of Empire Subscription Receipt Private Placement described below.  Empire intends to complete the Rights Offering as soon as is practicable.   A further press release will be issued once Empire has received regulatory approval for the Rights Offering and the record date for the Rights Offering has been determined.

Empire Subscription Receipt Private Placement and related matters

Pursuant to the Letter of Intent Empire has agreed to complete a private placement (the “Empire Subscription Receipt Private Placement”) of 6,000,000 subscription receipts (“Subscription Receipts”) at a price of $0.50 per Subscription Receipt for gross aggregate proceeds of $3,000,000.  The Subscription Receipts shall be subscribed for by EROL pursuant to the terms of a subscription receipt agreement (the “Subscription Agreement”) to be entered into by EROL, Empire and Carscallen LLP as escrow agent.   Pursuant to the terms of the Subscription Agreement, each Subscription Receipt will be automatically exchanged for one (1) Common Share of Empire and the proceeds of the Empire Subscription Receipt Private Placement will be released upon satisfaction of certain escrow release conditions (the “Escrow Release Conditions”).  The Escrow Release Conditions include: (i) the closing of the Rights Offering; and (ii) confirmation  that at least $6,000,000 in cash will be invested by Empire into DEGL in the first tranche of the DEGL Private Placement, all to be more particularly described in the Subscription Receipt Agreement.  The parties intend to close the Empire Subscription Receipt Private Placement on or before October 6, 2017.  The Subscription Receipts and the underlying Common Shares will be subject to a four month and one day hold period.

Upon successful completion of the Empire Subscription Receipt Private Placement, the Rights Offering and the DEGL Private Placement, Mr. Chui shall be appointed to the Board of Directors of Empire subject to regulatory approval.

DEGL Private Placement and related matters

Pursuant to the Letter of Intent, Empire has agreed to subscribe for $12 million of common shares of DEGL, and EROL or its assign has agreed to subscribe for $5 million of common shares of DEGL.  The common shares issued pursuant to the DEGL Private Placement shall be issued at a price per common share such that Empire owns 73.5% and EROL, or its assign, owns 26.5% of the issued and outstanding shares of DEGL upon the closing of the DEGL Private Placement.  The investments in DEGL by each of Empire and EROL, or its assign, will take place in two equal tranches.  The first tranche is intended to close as soon as practicable after the Empire Rights Offering and the Empire Subscription Receipt Private Placement have closed.  The second tranche is expected to close within 12 months of the closing of the first tranche.  In the event Empire does not have sufficient funds to close all or any portion of the second tranche of the DEGL Private Placement, EROL, or its assign, shall have the right (but not the obligation) to take up the balance of Empire’s portion of the second tranche.  The proceeds of the DEGL Private Placement will be used to develop the first co-venture attraction at a tourist venue in North America, and also to fund DEGL’s investment in the DTSH Private Placement and DTHK Private Placement.

Empire shall, or shall cause Dynamic Attractions Ltd. (Empire’s wholly-owned subsidiary) to, license certain intellectual property, including patents, know-how, copyrights, pre-visualization movie content, creative designs related to flying theaters, the Qin Dynasty license (the “Empire IP”) to DEGL, exclusively, to permit DEGL to execute the co-ventures at no cost to DEGL.   The term of the license shall be perpetual but can be terminated by Empire if two co-venture flying theaters are not installed and operating within five (5) years of the closing of the DEGL Private Placement.   DEGL shall be permitted to sublicense the Empire IP to DTHK exclusively in Asia and China so that DTHK may further sublicense the Empire IP to DTSH so that DTSH may carry out co-ventures in Asia and China.

DEGL shall be obligated to purchase all of the hardware and ride systems required for its co-ventures from Dynamic Attractions Ltd. (Empire’s wholly-owned subsidiary) at the cost of the bill of materials plus burdened labour costs plus a 15% gross margin on the selling price to cover overhead but excluding any gross margin added for profit.  DEGL shall purchase the creative services required for its co-ventures from Dynamic Attractions Inc. (Empire’s wholly-owned subsidiary) all at mutually agreeable competitive pricing.

It is a condition of the investment by EROL, or its assign, that concurrent with the closing of the first tranche of the DEGL Private Placement that DEGL adopt an option plan (the “DEGL Option Plan”) pursuant to which options to purchase 15% of issued and outstanding shares of DEGL for an aggregate exercise price of $2.5 million are to be granted to the Directors and Officers of DEGL.

Concurrent with the closing of the first tranche of the DEGL Private Placement, it is a condition of the DEGL Private Placement that Mr. George Tai resign as the sole Director of DEGL and Guy Nelson, James Chui and an additional nominee of Empire shall be appointed as the new Board of Directors of DEGL.  The initial executive officers of DEGL shall be: Guy Nelson, Chief Executive Officer, President and Executive Chairman; James Chui, Non-Executive Chairman; Brian Peebles, Senior Vice-President; Chuyu (Daniel) Wu, Vice President of Asia; and Allan Francis, Corporate Secretary and Treasurer.

With the recent executive announcements and promotions at Dynamic Attractions Ltd. (a wholly-owned subsidiary) previously announced by Empire on July 20, 2017, Mr. Nelson has the time necessary to serve as the Executive Chairman, CEO and President of DEGL, in addition to retaining his responsibilities as Executive Chairman and CEO of Empire.

Mr. Nelson will be acting as a Director, Executive Chairman, CEO and President of DEGL and it is anticipated that he will be compensated for his efforts including being eligible to participate in the DEGL Option Plan described above.   Mr. Nelson’s anticipated compensation from DEGL constitutes a personal interest in the transactions contemplated in the Letter of Intent and may be perceived as a conflict of interest.   Accordingly, Mr. Nelson disclosed the potential conflict of interest to Empire’s Board of Directors throughout the negotiation of the Letter of Intent.  In response, Empire’s Board of Directors appointed Empire’s Governance and Compensation Committee, comprised of three independent Directors of Empire, Messrs. Macdonald, Quinn and Marshall (the “Independent Committee”), to consider the potential conflict interest including alternatives to the transaction, consider the impact of the transaction as negotiated on the shareholders of Empire and make a recommendation to the Board of Directors regarding the same.  As part of their mandate, the Independent Committee has been authorized to obtain independent legal advice and engage an independent compensation advisor in order to assist with their recommendation to the Board of Directors.   As such, the anticipated compensation payable to Mr. Nelson remains subject to the approval of the Independent Committee.

DTSH Private Placement and related matters

Pursuant to the Letter of Intent, DEGL has agreed to subscribe for $4 million of common shares of DTSH, while EROL, or its assign, has agreed to subscribe for $14 million of common shares of DTSH (payable in RMB).  The common shares issued pursuant to the DTSH Private Placement shall be issued at a price per common share such that DEGL owns 30.0% and EROL, or its assign, owns 70.0% of the issued and outstanding shares of DTSH upon the closing of the DTSH Private Placement.  The funds shall be used primarily to complete the development of one co-venture attraction tourist venue in China.  The DTSH Private Placement shall close as soon as is practicable after the closing of the DEGL Private Placement.

DEGL will have a one year option to purchase additional shares of DTSH to increase its ownership up to 51.4% of DTSH for an additional investment of $11.1 million.   If DEGL does not exercise this option, EROL, or its assign, will have a 90 day option to purchase additional shares of DTSH to increase its ownership position up to 79% of DTSH for $11.1 million.

DTHK Private Placement and related matters

Pursuant to the Letter of Intent, DEGL has agreed to subscribe for $4 thousand of common shares of DTHK and EROL, or its assign, has agreed to subscribe for $14 thousand (payable in RMB) of common shares of DTHK.  DTHK will hold valuable intellectual property which will be licensed to DTSH to allow DTSH to operate Dynamic Flying Theatres and other attractions in China.  The DTHK Private Placement shall close as soon as is practicable after the closing of the DEGL Private Placement.

DEGL will have a one year option to purchase additional shares of DTHK to increase its ownership up to 51.4% of DTHK for an additional investment of $11,100.  If DEGL does not exercise this option, EROL, or its assign, will have a 90 day option to purchase additional shares of DTHK to increase its ownership position up to 79% of DTHK for $11,100.

About Empire Industries Ltd.

Empire focuses on designing, supplying, and installing premium theme park, media-based attractions and ride systems for the global entertainment industry. Empire also uses these same turn-key integration services for special projects such as large optical telescopes and enclosures. Through Empire’s execution of its strategy over the years, Empire owns several non-entertainment investments that it seeks to optimize and liquidate at the appropriate time.  Empire’s common shares are listed on the TSX Venture Exchange under the symbol EIL.

For more information about Empire, visit www.empind.com or contact:

Guy Nelson

Chief Executive Officer

Phone:  (416) 366-7977

Email:  gnelson@empind.com

Allan Francis

Vice President – Corporate Affairs and Administration

Phone:  (204) 589-9301

Email:  afrancis@empind.com

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 statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Although Empire believes these statements to be reasonable, no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. Such statements include statements with respect to: (i) the closing of the Empire Subscription Receipt Private Placement, Rights Offering, DEGL Private Placement, DTSH Private Placement, and DTHK Private Placement and that the conditions for completion of the of the same including regulatory approval will be met; and (ii) the execution of the co-ventures in North America and China and the results, if any, thereof, any increase in revenue and profitability of Empire and the success of any efforts in respect thereof.  Actual results could differ materially from those anticipated in these forward-looking statements as a result of prevailing economic conditions, and other factors, many of which are beyond the control of Empire. The forward-looking statements contained in this news release represent Empire’s expectations as of the date hereof, and are subject to change after such date. Empire disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable securities regulations.  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.

Empire Industries Reports 2Q17 Results and Conference Call Information

Profit Margins Continue to Strengthen as Mix of Business Improves

 

WINNIPEG, August 10, 2017 – Empire Industries Ltd. (TSX-V: EIL) today reported its unaudited consolidated financial results for the quarter ended June 30, 2017.  The unaudited consolidated financial statements and MD&A have been filed on SEDAR and can be viewed at www.sedar.com or at www.empind.com.

“Empire’s adjusted EBITDA was $2.7 million, up from $0.9 million during the same period last year.  Like Q1 2017, this resulted from a changing mix of business away from first generation media-based attractions, which had depressed profit margins in the prior quarters of 2016 and 2015, towards more profitable ride systems and attractions we have built before,” stated Guy Nelson. “The increased backlog bodes well for future profit visibility and it also reinforces that some of the company’s strategic initiatives are meeting market acceptance.”

 

Summary of second quarter 2017 consolidated results


 

A New Golden Age of Flight

Guests are racking up the air miles as flying theater attractions take off worldwide

by Juliana Gilling, Funworld

Voletarium

Europa-Park  |  Rust, Germany

Europe has always been the core theme of Europa-Park, expressed in 15 different themed areas with “authentic architecture, associated food options and shows,” says Michael Mack, the park’s managing partner. The Europa-Park team came up with the idea of a flying theater as a way of giving guests a completely fresh perspective on “this wonderful continent.”

“A flying theater is a fantastic symbiosis of a ride and a movie,” says Mack. It drew on the Mack family’s ride expertise and MackMedia’s ‘mediatainment’ activities. Europa-Park’s team wanted to use the project as a way of revitalizing the German Street area, creating a better guest flow throughout the day.

The attraction was first conceived in 2012, ahead of the park’s 40th birthday. Intense planning for the 4,800-square-meter area began in 2014. “Europa-Park is known for its elaborate theming, so it was important for us to not only build a flying theater, but to create a true experience. We extended our main street—Deutsche Straße—with a new courtyard, which houses meeting rooms, food and beverage outlets, and the main ‘Voletarium’ attraction,” says Mack.

“Voletarium” distinguishes itself from similar attractions through its theming and unique story. MackMedia produced a five-episode documentary for the ride called “The First Flight Theory,” in which researcher Professor Nikolajew aims to prove the Eulenstein brothers were the first to take off with a flying machine. The “Voletarium” is their research lab, where guests will fly in their creation, Volatus II.

Visitors entering the building pass through 11 highly themed rooms before boarding the ride gondolas. There are 14 in total, split across two cinemas and spread across three floors (10 seats per gondola amounting to 70 seats per cinema). The attraction is designed for guests ages 4 and above (over 1 meter in height) and can handle 1,400 riders, adding up to 3.5 million guests per year.

Once the gondolas move into the identical 16-meter-high theater domes, riders watch a 4.5-minute movie by MackMedia and director Holger Tappe, enhanced with wind, mist, and scent effects. The flightpath soars over iconic sights in Europe, from St. Mark’s Square in Venice to the European Parliament in Strasbourg.

“We wanted to film as many locations as possible, but with the current political situation, not every city was enthusiastic about having a low helicopter flyby, so we animated some scenes, which is hard to recognize if you don’t know it,” says Mack.

Europa-Park’s team have also invented its own new “Adventure Club of Europe” theme. The team  plan to use this as a tool to create a second layer of storytelling at Europa-Park (besides Europe), linking the “Voletarium” with existing attractions such as “Atlantis Adventure” and future developments. The park has already produced a “Voletarium: Sky Explorers” game app.

The “Voletarium” represents the single biggest investment in an attraction in Europa-Park’s history, according to Mack: “With the storytelling and theming of the overall attraction, in conjunction with the ‘Adventure Club of Europe,’ we have created something really outstanding.”

www.europapark.de

The Extraordinary Journey

Futuroscope  |  Poitiers, France

For its 30th birthday, Futuroscope delivered an aerial experience for visitors inspired by the visionary French writer Jules Verne. Launched in December 2016, “The Extraordinary Journey” was the first flying theater to open in Europe.

The i12.5 million attraction aligns with Futuroscope’s “innovative nature by offering a unique technology in France to its visitors,” says Laure Mosseron, Futuroscope’s head of marketing. “This flying theater also responds to visitor demand for beautiful stories and thrilling sensations.”

“The Extraordinary Journey” replaces the park’s “Magic Carpet” theater. It sends guests soaring around the world, like Phileas Fogg from Verne’s novel “Around the World in 80 Days.” Guests will find themselves lifting off above Futuroscope, skimming over Giza’s hot sands, buffeted by winds above Himalayan peaks, dropping in on base jumpers in Dubai, and weaving between hot-air balloons above Yellowstone National Park.

Futuroscope’s team worked with Dynamic Attractions to deliver the flying theater and Cube Creative on the animated film, which was directed by Nicolas Deveaux. The technology includes: an 84-seat platform that tilts 90 degrees; onboard wind, mist, and scent effects; a 6,458-square-foot curved screen; a 6K film showing a mix of 48 real and CGI images per second; and a 12.1 sound system. Around 650 passengers an hour can enjoy the ride. Flights last four minutes, and the minimum height requirement is 3.5 meters.

Futuroscope has giftwrapped the flying theater in an immersive preshow experience. Four preshow zones guide passengers from the main departure hall to the “SkyLoop” boarding desk. Along the way, children can color in a Jules Verne-themed wall mural and design book covers using magnetic illustrations.

www.futuroscope.com

Race Through New York Starring Jimmy Fallon

Universal Studios Florida  |  Orlando

Jimmy Fallon, while hosting “Late Night with Jimmy Fallon” on NBC in 2009, approached Universal Studios with the idea of creating a New York-based attraction, but Universal was not interested at the time.

Fast-forward to 2014. Fallon is selected by NBC to replace Jay Leno as host of its flagship late night program, “The Tonight Show.” Universal asks Fallon if he’s still interested in his attraction idea, and he responded “absolutely!” so the company and the comedian went to work. The result of this collaboration, “Race Through New York Starring Jimmy Fallon,” opened April 9 at Universal Studios Florida in Orlando.

“It was a great experience for all of us collaborating with Jimmy Fallon,” says Jason Surrell, creative director for Universal Creative. “The pleasure of working with Jimmy and his folks is that they truly love what we do—they love the parks, they love rides, and they were like kids in a candy store as we were developing this experience.”

The 3-D motion simulator ride is a wildly frantic and fun dash through the streets of New York City and beyond. Fallon challenges the audience to a race and appears on screen driving a suped-up motorcart of sorts. Guests experience the ride on a 72-seat motion platform, with the theater’s movements synchronized to the on-screen action.

The race begins in the corridors of 30 Rockefeller Plaza, where “The Tonight Show” is taped, and then speeds out onto the streets of New York City. It passes over, under, and through subways, bridges, and even the East River, and zooms by landmarks like Times Square, the Empire State Building, and the Statue of Liberty. The onscreen action is the first theme park attraction rendered in 16K resolution; coupled with 3-D glasses, the imagery is stunningly lifelike.

“Race Through New York” also uses an innovative queue system. Instead of waiting in line, guests visit the attraction’s entrance to make a ride reservation for later in the day. When they return, they’re ushered into a lounge where various “Tonight Show” characters entertain the crowd until it’s time to enter the theater; a separate area serves as a “Tonight Show” museum, displaying artifacts from throughout the show’s history. Guests are free to stay in these locales as long as they want prior to boarding the ride.

www.universalorlando.com

Dynamic to open new facility

by Adrian Lennox, InterPark

Canadian theme park and leisure equipment specialist Dynamic Attractions is planning to open a new assembly facility later this month.

Due to open in in Vancouver later this month, the 50,000sq.ft, high-tech factory will be used to assemble sophisticated ride systems featured in the company’s attractions at major tourist locations and theme parks around the world.

Last year, Dynamic Attractions opened more than twice as many attractions than any previous year. Furthermore, 2017 has already surpassed its previous record for new contracts.

To facilitate Dynamic’s continued growth, the company has made a series of appointments and promotions.

The new executive team, which will report to chief executive Guy Nelson, includes president and chief operating officer Hao Wang, who joins the group from automobile engineering firm, Multimatic.

Ye Zhou, president of group subsidiary, Dynamic Structures, has been promoted to chief technical officer of Dynamic Attractions, while former vice president of operations, Paul Poirier, has been named as senior vice president of strategic accounts and service

In addition, Brian Peebles has been appointed senior vice president of co-ventures for Empire Industries, and longstanding Dynamic Attractions member George Walker has been named as senior vice president of creative services for the group.

“With these promotions and additions to our executive leadership team, we have greatly enhanced our operational and creative leadership for the global markets we are leaders in,” Nelson said.

“They also reflect Empire’s commitment to increase our capacity to manage this growth.”