IMAX
IMAX Corporation is one of the world's leading entertainment technology companies, specializing in immersive motion picture technologies. As of June 30, 2009, there were 394 IMAX theatres (273 commercial, 121 institutional) operating in 44 countries.
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IMAX signs new deal to open four theatres in China
IMAX Corp (Nasdaq: IMAX; TSX:IMX) and Guangzhou Jinyi Film & Television Group Co Ltd, an entertainment developer and exhibitor, announced an agreement to open four IMAX theatres in China.
The first three installations are scheduled to be completed during the second half of 2011 in the cities of Chongqing, Tianjin and Shenyang. A fourth installation is scheduled for 2012 in a yet-to-be determined location.
Each IMAX theatre will be part of a newly constructed multiplex, and each will utilize IMAX's digital projection technology.
There are currently 81 IMAX theatres scheduled to be operating in Asia by 2014, including more than 40 scheduled to be open in China by 2012. To date, IMAX has signed contracts for more than 220 IMAX digital projection systems worldwide, with more than 100 currently in operation.
The latest four-theatre deal is the second multi-theatre announcement between IMAX and a Greater China area exhibition company in three months, following the June agreement between IMAX and Chinese film studio Huayi Bros to release mainstream Chinese films to IMAX theatres in China and other parts of Asia.
