IMAX Corporation (NYSE: IMAX; TSX: IMX) today announced it signed an agreement with Supercines, Ecuador's largest exhibitor, for two IMAX® theatres to be located in new construction projects in the city of Guayaquil, the country's largest and most populous city. The deal is part of IMAX's restructured master license agreement with Giencourt Investments S.A., a member of the RACIMEC International Group (RACIMEC), announced in January 2012.
"We're excited to have IMAX - the world's most immersive cinema experience - serve as the entertainment anchor in our upcoming shopping centers," said Johnny Czarninski, Executive President of Supercines. "We are committed to growing the IMAX brand in Ecuador, which we are confident will further strengthen our business and provide a differentiated movie-going experience that will thrill our guests."
"Today's agreement demonstrates that we are continuing to make inroads in South America - partnering with the top exhibitor in the country and bringing The IMAX Experience to premium sites," said Richard L. Gelfond, IMAX Chief Executive Officer. "We are pleased to welcome Supercines as a new IMAX partner and look forward to working together to capitalize on the growth opportunities in the region."