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Imax Corp
Symbol C : IMX
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Imax to install three Imax threatres in Russia

2013-02-04 10:18 ET - News Release

Mr. Andrew Cripps reports


Imax Corp. has signed agreements to open a total of three Imax theatre systems in new construction projects across Russia. The company recently installed one system with new partner Kronverk Cinema, and will add one each with existing partners Kinomax and Formula Kino.

Kronverk Cinema, one of the top five cinema chains in Russia, recently opened an Imax theatre in the city of Syktivkar, the northernmost theatre in Imax's global network. Kinomax will expand its Imax footprint to six theatres by installing an Imax theatre in Moscow. Formula Kino will add an Imax theatre in St. Petersburg, expanding its Imax commitment to three theatres. With the addition of Kronverk to the list of Imax operators in Russia, Imax now has theatres with the top six cinema chains in the fast-growing Russian market.

"We are delighted that Russian audiences have embraced Imax as their preferred way to experience the biggest blockbuster movies. In fact, Russia is home to some of our highest-grossing theatres in the world, with above-average, per-screen box office revenues," said Andrew Cripps, president, Imax Europe, Middle East and Asia. "The popularity of Imax in Russia continues to fuel our network growth, and we're delighted to expand our partnerships with Kinomax and Formula Kino and to welcome new partner Kronverk to help give more audiences the Imax Experience in this strategically important growth market."

"We have witnessed the increasing demand for the Imax Experience throughout Russia, and today, we are proud to partner with Imax and bring our patrons in Syktivkar the most immersive moviegoing experience," said Andrei Tereshok, Kronverk, general manager. "We believe Imax's cutting-edge technology, brand and powerful film slate will provide a key competitive advantage that will strengthen our overall business and delight our guests."

About Kronverk Cinema

Kronverk Cinema is among the top five film exhibitors in Russia and the Commonwealth of Independent States, welcoming over six million customers a year. With 20 movie theatres in Russia and two theatres in the Ukraine, the company is a leader in both St. Petersburg and Russia's northwest regional market. Kronverk Cinema is led by a dedicated team of industry professionals committed to customer service excellence. Employing state-of-the-art technologies and superior guest service amenities, Kronverk Cinema offers patrons a premium moviegoing experience.

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