OMAHA, Neb. - (Business Wire) Ballantyne of Omaha, Inc. (Amex: BTN), a motion picture projection, digital cinema and specialty lighting equipment and services provider, announced today that its Marcel Desrochers Inc. (MDI) subsidiary, doing business as Strong Screen Systems, has entered into a long-term supply agreement with IMAX Corp. (NASDAQ: IMAX). Under the agreement Strong Screen Systems/MDI will provide coated cinema screen sheets and structural screen frames (the key components of a cinema screen system) for use with IMAX
’s proprietary large format digital, analog and 3-D projection systems. The agreement expands upon the two companies
’ long-standing collaboration. Financial terms of the agreement were not disclosed.
MDI is a respected Canada-based manufacturer of cinema projection screens that was acquired by Ballantyne in October 2007. MDI is a market-leader in the North American screen manufacturing industry with an excellent reputation for quality, innovative products and service, strong customer relationships and an experienced technical staff.
Brian Bonnick, EVP of Technology, IMAX Corp., stated, “We have enjoyed a long term relationship with MDI/Strong Screen Systems and are pleased that they are now part of the Ballantyne/Strong family. We look to Strong Screen Systems to support our efforts to expand the reach of IMAX’s unique and compelling large format installations and are confident that they will continue to deliver the technology and quality required by our systems. It’s a win-win partnership on both sides.”
John P. Wilmers, President and Chief Executive Officer of Ballantyne, commented, “We are gratified that IMAX continues to recognize the value, service and unique technologies that Strong Screen Systems provides in fulfilling their cinematic needs. IMAX systems deliver a unique, high quality, large format cinematic experience that necessitates state-of-the art screen technology and performance.
“Ballantyne is committed to supporting the exhibition community with the highest quality products to deliver state of the art theater experiences, be it digital, analog, 3-D or large format. We are confident that our screen technology will continue to meet the challenges of delivering a cutting edge entertainment experience, and look to build upon our position as a key partner for IMAX.”
About IMAX Corporation
IMAX Corporation is one of the world's leading digital entertainment and technology companies. The worldwide IMAX network is among the most important and successful theatrical distribution platforms for major event Hollywood films around the globe, with IMAX theatres delivering the world's best cinematic presentations using proprietary IMAX, IMAX® 3D, and IMAX DMR® technology. IMAX DMR is the Company's groundbreaking digital remastering technology that allows it to digitally transform virtually any conventional motion picture into the unparalleled image and sound quality of The IMAX Experience®. IMAX's renowned projectors and new digital systems display crystal-clear images on the world's biggest screens. The digital system being developed by IMAX is configured for an IMAX MPX-style auditorium, which is designed specifically to enable multiplex operators to more cost effectively enter into the IMAX theatre business. The IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences for consumers. As of September 30, 2007, there were 296 IMAX theatres operating in 40 countries. IMAX®, IMAX® 3D, IMAX DMR®, IMAX MPX®, and The IMAX Experience® are trademarks of IMAX Corporation. More information on the Company can be found at www.imax.com.
About Ballantyne of Omaha
Ballantyne is a provider of motion picture projection, specialty lighting, specialty projection equipment and digital cinema equipment and services. The Company supplies major theater chains, top arenas, television and motion picture production studios, theme parks and architectural sites around the world. For more information visit www.ballantyne-omaha.com. Except for the historical information in this press release, it includes forward-looking statements that involve risks and uncertainties, including but not limited to, quarterly fluctuations in results; customer demand for the Company’s products; the development of new technology for alternate means of motion picture presentation; domestic and international economic conditions; the management of growth; and other risks detailed from time to time in the Company’s Securities and Exchange Commission filings. Actual results may differ materially from management’s expectations. Ballantyne assumes no obligation to publicly update or revise any forward-looking statements.
Ballantyne of Omaha
Kevin Herrmann, 402-453-4444
or
Jaffoni & Collins Incorporated
David Collins, Ratula Roy
212-835-8500
btn@jcir.com
