IMAX Signs Agreements for Three New Theatres with One New, Two Existing
NEW YORK, Feb. 4, 2013 /CNW/ - IMAX Corporation (NYSE: IMAX; TSX: IMX),
today announced it has signed agreements to open a total of three IMAX® theatre systems in new construction projects across Russia. The Company
recently installed one system with new partner Kronverk Cinema and will
add one each with existing partners Kinomax and Formula Kino.
Kronverk Cinema, one of the top five cinema chains in Russia, recently
opened an IMAX theatre in the city of Syktivkar, the northernmost
theatre in IMAX's global network. Kinomax will expand its IMAX
footprint to six theatres by installing an IMAX theatre in Moscow.
Formula Kino will add an IMAX theatre in St. Petersburg, expanding its
IMAX commitment to three theatres. With the addition of Kronverk to the
list of IMAX operators in Russia, IMAX now has theatres with the top
six cinema chains in the fast-growing Russian market.
"We are delighted that Russian audiences have embraced IMAX as their
preferred way to experience the biggest blockbuster movies. In fact,
Russia is home to some of our highest-grossing theatres in the world,
with above-average, per-screen box office revenues," said Andrew
Cripps, President, IMAX EMEA. "The popularity of IMAX in Russia
continues to fuel our network growth and we're delighted to expand our
partnerships with Kinomax and Formula Kino and to welcome new partner
Kronverk to help give more audiences The IMAX Experience® in this strategically important growth market."
"We have witnessed the increasing demand for The IMAX Experience® throughout Russia and today we are proud to partner with IMAX and bring
our patrons in Syktivkar the most immersive movie-going experience,"
said Andrei Tereshok, Kronverk, General Manager. "We believe IMAX's
cutting-edge technology, brand and powerful film slate will provide a
key competitive advantage that will strengthen our overall business and
delight our guests."
About Kronverk Cinema
Kronverk Cinema is among the top five film exhibitors in Russia and CIS,
welcoming over six million customers a year. With 20 movie theatres in
Russia and two theatres in the Ukraine, the Company is a leader in both
St. Petersburg and Russia's North West regional market. Kronverk Cinema
is led by a dedicated team of industry professionals committed to
customer service excellence. Employing state-of-the-art technologies
and superior guest service amenities, Kronverk Cinema offers patrons a
premium movie-going experience.
About IMAX Corporation
IMAX, an innovator in entertainment technology, combines proprietary
software, architecture and equipment to create experiences that take
you beyond the edge of your seat to a world you've never imagined. Top
filmmakers and studios are utilizing IMAX theatres to connect with
audiences in extraordinary ways, and, as such, IMAX's network is among
the most important and successful theatrical distribution platforms for
major event films around the globe.
IMAX is headquartered in New York, Toronto and Los Angeles, with offices
in London, Tokyo, Shanghai and Beijing. As of Sept. 30, 2012, there
were 689 IMAX theatres (556 commercial multiplex, 20 commercial
destination and 113 institutional) in 52 countries.
IMAX®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D
Experience®, The IMAX Experience® and IMAX Is Believing® are trademarks
of IMAX Corporation. More information about the Company can be found at
www.imax.com. You may also connect with IMAX on Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax) and YouTube (www.youtube.com/imaxmovies).
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SOURCE: IMAX Corporation
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