IMAX and CFGC Expand Partnership
The first system is scheduled for installation in the city of Shenzhen, and is expected to open in 2011. The second system is scheduled for installation in the city of Ningbo, and is expected to open in 2012.
The agreement brings the total number of IMAX theatres to be operated by China Film Group to three by the end of 2012 and the total number of IMAX theatres scheduled to be operating in China to 67 by 2014, said IMAX.
IMAX Corporation is an entertainment technology company, specializing in immersive motion picture technologies. CFGC is the comprehensive and extensive state-owned film enterprise in China.
Han Sanping, chairman of CFGC, said: “Our first IMAX location, which opened in January 2010, has improved the performance of our complex by delivering incremental box office returns and a broader range of Hollywood films, and we're looking forward to IMAX releasing important Chinese films, such as John Woo's Flying Tigers. We are very pleased to expand our relationship with IMAX.”
Richard Gelfond, CEO of IMAX, said: “As a studio and exhibitor, China Film Group is an excellent strategic partner for IMAX. We're very pleased to expand our relationship with them to feed consumer demand in China with more locations and a broader range of content for Chinese moviegoers.”
Will the partnership expansion benefit the firms?
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