Omaha, Neb.—Nov 20, 2008
Ballantyne to Provide 35 NEC Digital Projectors with Real D 3-D Technology to Support the Launch of "Bolt" in Disney Digital 3-D
Ballantyne of Omaha, Inc. (NYSE Alternext US: BTN), a provider of cinema equipment and services, announced today that its Strong Digital Systems (SDS) division will provide 35 NEC STARUS™ Digital Cinema projectors with REAL D 3-D technology to theatre chains including Regal Entertainment Group (NYSE: RGC) and National Amusements, Inc. The projectors shipments and installations are being completed in time for the November 21st release of Walt Disney Pictures’ animated feature film "Bolt" in Disney Digital 3-D. Ballantyne’s Strong Technical Services subsidiary is performing a majority of the installations, and a majority of the specialty silver screens are being procured from the Company’s Strong Screen Systems business.
Digital Link II, LLC, an entity formed and co-financed by REAL D and Ballantyne, will fund the projector purchases. Specific financial terms were not disclosed.
John P. Wilmers, President and CEO of Ballantyne, commented, "3-D is a very compelling theatre experience and a strong driver for the early adoption of digital cinema technology. We are pleased to extend our partnership with REAL D to deliver their state of the art 3-D digital projection solutions, in conjunction with NEC Starus projectors, to support our customers’ plans for ‘Bolt.’
"The momentum for digital cinema is accelerating, supported by a growing slate of 3-D releases and the anticipation of large scale funding for digital conversions. 2009 is shaping up to be a period of strong demand, and Ballantyne/Strong is well positioned to deliver the expertise, specialized services and equipment our customers will need to tap this powerful new cinema technology."