Plano, Texas and Longueuil, Quebec—Mar 25, 2014
Cinemark International and D-Box Technologies Announce an Agreement to Install D-Box Motion Systems in Brazil
Cinemark International LLC, an International subsidiary of Cinemark Holdings, Inc. (NYSE:CNK), one of the world’s leading motion picture exhibitors, and D-BOX Technologies Inc. (TSX:DBO), a leader in innovative motion technology, announced today at CinemaCon an agreement to initially install three theatres representing six screens in Brazil. Cinemark has also negotiated the right to install at least 24 screens in the next 18 months; additional screens may be added in the following 18 months under the same terms and conditions. This agreement comes on the heels of other agreements signed between D-BOX and Cinemark since 2012 for Latin America.
Commenting the news, Valmir Fernandes, President of Cinemark International, declared: “Based on our positive experience with D-BOX in Peru, Chile and Colombia, it was a natural and easy decision to start deploying systems in Brazil, Cinemark’s largest market in Latin America. We are confident that D-BOX will continue to yield strong results, in which case we will consider deploying new systems in other Cinemark Brazil locations over the next few years.”
We’re extremely pleased to continue our deployment with Cinemark and are very excited by the potential offered by the Brazilian market. The fact that Cinemark, a leading exhibitor in the Americas, continues adding new systems provides a true testimony to the attractiveness of our business model and should also act as a strong motivational impact on other chains currently contemplating investing in D-BOX systems”, concluded Claude Mc Master, President and Chief Executive Officer of D-BOX Technologies.