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Wednesday, September 18, 2013

Cinepolis Ups Its IMAX Commitment With A New Theatre In India

 IMAX Corporation (NYSE: IMAX; TSX: IMX) and Cinepolis, one of the world's largest exhibition circuits, today announced an agreement to install a new IMAX® theatre to be located in the newly constructed Viviana mall in the Thane section of suburban Mumbai, India. The deal, which marks Cinepolis' first IMAX theatre in India, brings to 14 the exhibitor's total IMAX commitment, with seven IMAX theatres open and five in backlog in Mexico and one open in Brazil. Today's announcement also brings to 15 the number of IMAX theatres open or contracted to open in India. 

"Our vision is to offer the highest-quality entertainment experience possible and continually surpass our guests' expectations," said Alejandro Ramirez, CEO of Cinepolis Worldwide. "IMAX helps us deliver on this promise and we're delighted to expand our partnership. This IMAX theatre will be hosted in our flagship 14 Screener megaplex at the Viviana Mall. We continue to invest heavily into the country to deliver the best cinema-going experience to our patrons."

"Today's agreement with Cinepolis further extends our partnership with one of the world's largest exhibitors into India – a key market with an avid movie-going population that presents strong growth potential for IMAX," said Don Savant, Senior Vice President and Managing Director, Asia Pacific. "We're pleased to see existing partners expand their IMAX business – a testament to the truly differentiated brand and entertainment experience we deliver."