IMAX Corporation (NYSE: IMAX) and CJ CGV Holdings, Ltd., (CJ CGV) today announced an expansion of the companies' partnership with the addition of two IMAX® theatres in Vietnam, to be operated by CGV Vietnam, a wholly-owned subsidiary of CJ CGV. The deal marks IMAX's entry into the country, with the first theatre to be added to a new construction project in Ho Chi Minh City, the largest metropolitan area in Vietnam, and the second location still to be determined. With this deal, CJ CGV - IMAX's second-largest partner internationally - will have 97 theatres open or contracted to open, including two theatres in Vietnam, 20 theatres in South Korea and 75 theatres in China.
"We were the first to introduce The IMAX Experience® to audiences in South Korea and today we are proud to be the first to bring the world's most immersive experience to moviegoers in Vietnam," said Dong-Won Kwak, CEO, CGV Vietnam. "IMAX delivers a unique cinematic experience that sets us apart from our competitors. With global expansion as a top priority, we look forward to continuing this successful relationship and integrating IMAX as a key element to our growth efforts."
"CJ CGV is a world-class exhibitor and powerful force in the Asia Pacific entertainment market that has helped strengthen the IMAX brand throughout the region," said Don Savant, IMAX Managing Director, Asia Pacific. "I can't think of a better way to commemorate our decade-long relationship than by introducing IMAX to the moviegoers of Vietnam with our valued partner and the country's largest exhibitor."