Empower Defense UpdateSeems it's still in existence.
Richmond, British Columbia CANADA, July 23, 2013 /FSC/ - Empower Technologies Corporation (EPT - TSX Venture), After a short time operating on the East Coast and in consultation with its customers, Empower Defense Systems Inc. ("EDS") a wholly-owned subsidiary created solely by Empower Technologies Corporation (TSX.V: EPT) ("Empower") in November 2012 announces it is proceeding to establish its engineering and production facility on the West Coast. The business and financial incentives to locate on the East Coast have been diminishing steadily over the years. Today those incentives are almost at par everywhere in Canada. As a result, the Empower management has decided to bring the EDS operation back from the East Coast to be close to home. The supplier network is very strong in BC and the professional and skilled labour are abundant here on the West Coast versus where EDS was located. EDS will gain operational efficiency and cost competitiveness with this move.
EDS is also capitalizing on the Canadian government's new 'buy Canada' military budget as quoted in the Globe and Mail news article by Steven Chase on September 24, 2012. It said "The Harper government is embarking on an ambitious effort to develop a Canada-first military purchasing strategy - one that aims to funnel as many procurement dollars as possible to domestic firms with the potential to be leaders in their field." EDS is focusing its effort not only to win contract works from the major defense contractors but also aiming to be the leader in the military imaging equipment field to supply state of the art high power Empower imaging technology enabled camera for the army, navy and air force to perform surveillance, reconnaissance and target acquisition. Therefore it is important for EDS to make this move to be closer to Empower's other engineering groups supporting its military imaging effort with products and technologies.
This relocation will not interfere with current EDS activities. EDS expects the new facility will be fully functional by the fall of this year.