NEW YORK, Feb. 6, 2018 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX) and Supercines, the largest cinema operator in Ecuador, today announced a sales agreement for five new IMAX® theatres in Ecuador. The theatres will be added to a combination of new and existing complexes throughout Ecuador with three to be located in the city of Guayaquil, one in the city of Ambato and another in the city of Machala. The deal brings to seven Supercines' total IMAX footprint with theatres currently in operation in Guayaquil and in Quito.
"As the largest exhibitor and commercial developer in the country operating IMAX sites that are among the highest-grossing in Latin America, Supercines is a strategic partner," said IMAX CEO
Richard L. Gelfond. "Interest in IMAX continues to build among our existing partners and new exhibitors in Latin America as they seek to differentiate their theatres with the ultra-immersive IMAX format. We are delighted with today's multi-theatre commitment, which we believe will support our growth efforts in Latin America."
"After a thorough review of offerings, including the option to develop our own private label theatre, it was clear that IMAX provides the most differentiated, branded cinematic experience available," said Johnny Czarninski Baier, Executive President, Corporación El Rosado, Supercines. "Our commitment to delivering a customer-focused cinema experience is a perfect fit with IMAX's cutting-edge technology and blockbuster film slate. We look forward to continuing this successful relationship and integrating IMAX as a key element to our growth efforts."
Supercines is the largest cinema chain in Ecuador with more than 15 years in the market and 22 nationwide multiplexes. Each of its theatres is equipped with the best digital technology, where the spectator will perceive the quality of the images in high definition, intense colors and impeccable sound. Supercines is prepared to meet all the expectations of an increasingly demanding market, and its purpose is to offer the best selection of films, extreme comfort in its cinemas, and a personalized service for all our customers.
Supercines was the first cinema chain to implement VIP lounges in its theatres, creating a more exclusive environment to enjoy films, combining comfort and quality that only a premium service can offer. The VIP areas have elevators, designer living rooms, comfortable reclining leather armchairs, which are complemented by a personalized bar service inside the lounges.
Following its cutting-edge path in technology and innovation, three years ago Supercines achieved a strategic alliance with IMAX, the renowned international brand of premium movie theaters, which, with its giant screens, state-of-the-art digital projection and surround sound, promises to keep the spectators on the edge of their seats and enjoy the movie as if they were in it. Currently, you can enjoy IMAX in Supercines "El Dorado" in Guayaquil and Supercines "6 de Diciembre " in Quito. In January 2018, Supercines and IMAX strengthened their relationship by signing an agreement that will bring five new IMAX theatres to Ecuador in the next two years.
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 additional offices in London, Dublin, Tokyo, and Shanghai. As of September 30, 2017, there were 1,302 IMAX theatres (1,203 commercial multiplexes, 11 commercial destinations and 86 institutions) in 75 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."
IMAX®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D Experience®, The IMAX Experience®, IMAX Is Believing® and IMAX nXos® are trademarks of IMAX Corporation. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax) and YouTube (www.youtube.com/imaxmovies).
This press release contains forward looking statements that are based on IMAX management's assumptions and existing information and involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. These risks and uncertainties are discussed in IMAX's most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.
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