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Toronto—Oct 20, 2009
IMAX and Europalaces/Pathe Expand Joint Venture Partnership
Top Exhibitor to Install IMAX's Digital Projection System in Three Locations in the Netherlands
IMAX Corporation (NASDAQ:IMAX; TSX:IMX) and Pathé Netherlands - a Europalaces/Pathé company and the largest exhibitor in The Netherlands - today announced an agreement to install three IMAX® theatre systems as part of an expanded joint venture partnership between the two companies. The deal includes the installation of IMAX's digital projection system in Rotterdam and Eindhoven, as well as a digital upgrade to the exhibitor's existing film-based IMAX theatre in Amsterdam.
The Amsterdam upgrade and new Rotterdam location are each scheduled to open in time for the December 17th IMAX® 3D release of James Cameron's Avatar in international markets.
Pathé Netherlands opened its first IMAX theatre at the Pathé Netherlands Arena in Amsterdam, 2005 and since then it has become the most successful multiplex in the country, with a steady increase in annual attendance and box office.
"Pathé Netherlands has been operating a successful IMAX theater in Amsterdam for the past four years, and we are particularly pleased that, based on the historical performance, they have decided to expand our joint venture partnership," said IMAX CEO Richard L. Gelfond. "Our hope is that we'll see similar interest from exhibitors in other international territories as we continue to build our network and deliver outstanding event titles."
"Our digital projection system is gaining traction worldwide and we're encouraged by the recent progress in Europe," added Larry O'Reilly, Executive Vice President of Theatre Development. "The team at Pathé Netherlands understands the premium value of the IMAX brand, and they operate top-notch multiplexes, which makes them an ideal joint venture partner for IMAX."
Separately, the agreement with Europalaces/Pathé also includes upgrading the Gaumont Disney Village IMAX outside Paris, France with IMAX's digital projection system, which represents a further extension of the developing business relationship between the two companies.
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 September 30, 2015, there were 1,008 IMAX theatres (887 commercial multiplexes, 19 commercial destinations and 102 institutions) in 66 countries. On Oct. 8, 2015, shares of IMAX China, a subsidiary of IMAX Corp., began trading on the Hong Kong Stock Exchange under the stock code "HK.1970."
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