|By Business Wire||
|June 19, 2014 08:06 AM EDT||
Strong-MDI, a Ballantyne Strong, Inc. company (NYSE MKT: BTN), today announced the signing of a two-year exclusive supply agreement with Cinépolis, the fourth largest chain of movie theaters in the world with more than 3,000 screens in 11 countries. Pursuant to the agreement, Strong-MDI will supply screens for all installations in Cinépolis theaters throughout the Americas over the next two years. After having supplied screens to Cinépolis for several years, the new contract represents the first exclusive supply agreement between the two companies covering the full breadth of screen products from Strong-MDI.
“Strong-MDI delivers consistently high quality screens with exceptional performance to our theaters,” said Alejandro Tejado, Purchasing and Supply Chain Director for Cinépolis. “MDI couples its expertise and innovation in screen technology with exceptional delivery and support to assure our success as we incorporate their products into our theaters. Strong has a solid reputation for delivering quality product on time anywhere in the world.”
“We are honored to have been selected as the exclusive supplier to Cinépolis and complement their beautiful state-of-the-art theaters throughout the Americas,” said Chris Stark, Senior VP and COO of Ballantyne Strong. “The combination of Strong-MDI’s high performance screens with the innovative entertainment experience of Cinépolis theaters is a winning combination.”
About Cinépolis (www.cinepolis.com)
Cinépolis is the world’s 4th largest movie theater circuit, operating more than 3,000 screens in 11 countries and serving close to 200 million patrons annually. The company operates its screens under four different brands that span across the ultra-premium to the extreme value segments. As a company that is committed to innovation, Cinépolis was the first to pioneer the concept of premium movie theaters via its Cinépolis VIP brand. The company aspires to provide its patrons the best overall experience in filmed entertainment and employs a global workforce of 22,000 people to support its mission. Founded in 1971, Cinépolis is privately held and is headquartered in Morelia, Mexico.
About Ballantyne Strong, Inc. (www.strong-world.com)
Ballantyne Strong designs, integrates, and installs technology solutions for a broad range of applications; develops and delivers out-of-home messaging, advertising and communications; manufactures projection screens and lighting products; and provides managed services including monitoring of networked equipment. The Company focuses on serving the retail, financial, government and cinema markets.
Except for the historical information in this press release, it includes forward-looking statements that involve risks and uncertainties, including but not limited to, quarterly fluctuations in results; customer demand for the Company’s products; the development of new technology for alternate means of motion picture presentation; domestic and international economic conditions; the management of growth; and other risks detailed from time to time in the Company’s Securities and Exchange Commission filings. Actual results may differ materially from management’s expectations.