BRIEF-Empire Industries announces plan of arrangement for spin-out of Hydrovac business
May 18 (Reuters) - Empire Industries Ltd
* Announces plan of arrangement for spin-out of Hydrovac business
* Following completion of arrangement, Tornado intends to expand its Hydrovac business into China
* Shares of Empire will be exchanged for one quarter of new Empire share and one eighth of new Tornado share for every share of Empire
* Entered into arrangement agreement with its wholly-owned subsidiaries, Tornado Global Hydrovacs Ltd, Tornado Global Hydrovacs Inc Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)
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