D-Box Surges Most in Six Weeks on Deal for China Cinema Seatsby
Will install motion system in 143-seat auditorium in Hainan
Quebec company makes seats that move in time with the screen
Canada’s D-Box Technologies Inc., which makes cinema seats that move in time with the action, jumped the most in six weeks after securing its first deal to outfit an entire auditorium in China.
D-Box shares climbed 7 percent to 61 Canadian cents a share at 10:50 a.m. in Toronto trading, the biggest increase since Aug. 9. The Longueuil, Quebec-based company has surged 67 percent this year on track for a third straight year of gains.
The company’s agreement with Shanghai Bestar Cinemas Management Co. will see D-Box install its motion seats in a 143-seat theater in Haikou, in Hainan province. Terms of the deal weren’t disclosed.
“This contract underlines just how scalable our technology is and demonstrates how we can accommodate all types of auditorium and space considerations,” Chief Executive Officer Claude McMaster said in a statement. “To provide one complete auditorium equipped with our immersive-motion seating technology is a great moment for us.”
D-Box has been installing its seats in theaters around the world, including in Canada and the U.S., according to its website. The company also markets its technology for use in other industries, including flight simulators and heavy-equipment training.