IMAX continues network expansion in China with 3 new IMAX theatres

12 July 2012 20 h 22 min Comments Off

Company Signs Agreements with One Existing, Two New Exhibitor Partners –Agreements Bring to 229 Total IMAX Network in China

IMAX Corporation announced it has signed agreements to open a total of three IMAX® theatre systems in new construction projects across China. The Company will install one system each with existing partner Omnijoi Cinema Development Co., Ltd. (Omnijoi Cinemas), as well as new partners Guangzhou Fanbo Investment Consulting Co., Ltd. (Guangzhou Fanbo) and Zhejiang Wandi International Cineplex Co., Ltd. (Zhejiang Wandi).

With today’s agreements, IMAX has 229 theatres open or contracted to open throughout Greater China.

Omnijoi Cinemas will install an IMAX theatre system in the city of Changzhou that is slated to open in November 2012. The deal follows a recent five-theatre agreement, and brings to 14 Omnijoi Cinemas’ total IMAX commitment.

Zhejiang Wandi will add an IMAX theatre system to the Zhejiang Wandi International Cineplex in January 2013, which upon its completion will mark the first large-scale, modern multiplex in Lishui - a largely untapped area for IMAX.

Guangzhou Fanbo will install an IMAX theatre system in the Panyu district of Guangzhou, China’s third largest city, which is scheduled to open in September 2013.

“We’ve worked alongside our partners for more than a decade to bring the most immersive movie-going experience to more audiences across China. As the Chinese cinema market continues to experience rapid growth, both existing and new exhibitor partners are increasingly leveraging IMAX as a competitive advantage for their complexes,” said Richard L. Gelfond, CEO, IMAX Corporation. “We’re delighted that Omnijoi Cinemas has added another IMAX theatre so soon after their recent commitment and pleased to welcome Guangzhou Fanbo and Zhejiang Wandi as new partners.”

SOURCES: IMAX Corporation (11/07/12)

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