Indonesia's Largest Exhibitor Expands IMAX® Footprint With Eight-Theatre Deal
Agreement Builds on Success of Cinema 21's Existing IMAX® Theatre
NEW YORK, March 26, 2013 /CNW/ - IMAX Corporation (NYSE: IMAX; TSX: IMX) and
Cinema 21, Indonesia's largest exhibitor, today announced an agreement to
install eight IMAX(®) theatres throughout Indonesia, bringing to 10 the
exhibitor's total IMAX commitment. Cinema 21 currently has an IMAX theatre
open in Gandaria City, South Jakarta, and another slated to open in Kelapa
Gading, North Jakarta.
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"Due to the success, superior quality and performance of our IMAX theatre in
South Jakarta, we have exercised our option to expand our relationship with
IMAX to further penetrate the Indonesia market," said Mr. Suryo Suherman,
President of Cinema 21. "We believe that IMAX provides a unique and
differentiated premium experience that our guests appreciate and will continue
to seek out, further strengthening our business."
"Today's agreement marks an important step in expanding our presence in the
Indonesian market - the most populous country in Southeast Asia, with one of
the more robust economies in the region," said Richard L. Gelfond, CEO of
IMAX. "Cinema 21 is a strategic partner that will help IMAX seize the growth
opportunities that exist in Indonesia, where consumer spending and investment
remain strong and the demand for IMAX continues to build."
Commenting on the agreement, IMAX Senior Vice President and Managing Director,
Asia Pacific Don Savant said, "When the nation's largest exhibitor expands
their IMAX business, it is truly an endorsement of the results IMAX delivers
to its partners and underscores the level of enthusiasm we're seeing for The
IMAX Experience(®) in Indonesia. We are delighted to strengthen our
relationship with Cinema 21 and bring more audiences across the region the
biggest blockbusters in the world's most immersive format."
About Cinema 21 Cinema 21 is the largest cinema chain in Indonesia and South
East Asia. Cinema 21 has 631 screens in 31 cities all over Indonesia. Cinema
21 operates under three brands: Cinema XXI, Cinema 21 and The Premiere.
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 Dec. 31, 2012, there were 731 IMAX
theatres (598 commercial multiplexes, 19 commercial destinations and 114
institutions) in 53 countries.
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management's assumptions and existing information and involve certain risks
and uncertainties which could cause actual results to differ materially from
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