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
For additional information please contact:
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IMAX Corporation – New York Teri Loxam
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SOURCE: IMAX Corporation
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