JOLIETTE, Quebec, Feb. 03, 2022 (GLOBE NEWSWIRE) — STRONG/MDI Screen Systems, Inc. (“STRONG/MDI”) a wholly-owned subsidiary of Ballantyne Strong, Inc. (“Ballantyne Strong”) (NYSE American: BTN) and a leader in manufacturing of state-of-the-art cinema screens announced that it has produced and delivered the world’s tallest IMAX screen to Royal Cinemas in Pooler, Georgia. The venue is set to open by the end of February 2022.
At 76 feet and 2 inches tall, the screen will be used in a custom-built 363-seat auditorium and feature IMAX with Laser technology, a groundbreaking 4k laser projection system that adds a new optical engine, custom designed lenses, and a suite of proprietary technology that delivers brighter images with increased resolution, deeper contrast, and the widest range of colors exclusively to IMAX screens in addition to IMAX precision audio.
“Royal Cinemas and IMAX are committed to giving their customers the best movie-going experience possible, and we are thrilled to be able to provide them with this high-precision giant screen,” said Ray Boegner, President of STRONG/MDI. “STRONG/MDI’s high-performance screens are considered the standard-bearer to IMAX and among major exhibitors in the industry who demand superior presentations.’’
“We’re happy to be working with STRONG/MDI to provide a record-setting IMAX screen to Royal Cinemas. This will be the tallest IMAX screen in the world, featuring immersive-by-design IMAX with Laser technology, increased resolution, sharpened and brightened images, and deeper contrasts to deliver the most powerful lifelike visuals available today,” said Mark Welton, President, IMAX Theatres.
Those looking for more information on cinema product developed by STRONG/MDI Screen Systems can contact the sales team by phone at +01 450 755-3795 or via email info@strongmdi.com.
About Ballantyne Strong, Inc. and Strong/MDI Screen Systems, Inc.
Ballantyne Strong, Inc. is a diversified holding company with operations and investments across a broad range of industries. The Company’s Strong Entertainment business unit includes STRONG/MDI Screen Systems (www.strongmdi.com), the leading premium screen and projection coatings supplier in the world and Strong Technical Services (www.strong-tech.com), which provides comprehensive managed service offerings with 24/7/365 support nationwide to ensure solution uptime and availability. Ballantyne Strong also holds stakes in GreenFirst Forest Products Inc., Firefly, Inc, and FG Financial Group, Inc.
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 theaters 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, 2021, there were 1,664 IMAX theater systems (1,580 commercial multiplexes, 12 commercial destinations, 72 institutional) operating in 85 countries and territories. Shares of IMAX China Holding, Inc., a subsidiary of IMAX Corporation, trade on the Hong Kong Stock Exchange under the stock code “HK.1970.”
IMAX®, IMAX® Dome, IMAX® 3D, IMAX® 3D Dome, Experience It In IMAX®, The IMAX Experience®, An IMAX Experience®, An IMAX 3D Experience®, IMAX DMR®, DMR®, IMAX nXos® and Films to the Fullest®, are trademarks and trade names of the Company or its subsidiaries that are registered or otherwise protected under laws of various jurisdictions. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Instagram (https://www.instagram.com/imax), Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax) and YouTube (www.youtube.com/imaxmovies).
Forward-Looking Statements
This press release may contain “forward-looking statements.” All statements, other than statements of historical facts, are forward-looking statements. The Company may, in some cases, use words such as “project,” “believe,” “anticipate,” “plan,” “expect,” “estimate,” “intend,” “should,” “would,” “could,” “potentially,” “will” or “may,” or other words that convey uncertainty of future events or outcomes, to identify these forward-looking statements. Such forward-looking statements are based on management’s current expectations, but actual results may differ materially due to various factors, including but not limited to those discussed in the “Risk Factors” section contained in Item 1A in Ballantyne Strong, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2020 and the Company’s subsequent filings with the Securities and Exchange Commission, and the following risks and uncertainties: the negative impact that the COVID-19 pandemic has already had, and may continue to have, on the Company’s business and financial condition; the Company’s ability to maintain and expand its revenue streams to compensate for the lower demand for the Company’s digital cinema products and installation services; potential interruptions of supplier relationships or higher prices charged by suppliers; the Company’s ability to successfully compete and introduce enhancements and new features that achieve market acceptance and that keep pace with technological developments; the Company’s ability to successfully execute its capital allocation strategy or achieve the returns it expects from these investments; the Company’s ability to maintain its brand and reputation and retain or replace its significant customers; challenges associated with the Company’s long sales cycles; the impact of a challenging global economic environment or a downturn in the markets (such as the current economic disruption and market volatility generated by the ongoing COVID-19 pandemic); economic and political risks of selling products in foreign countries (including tariffs); risks of non-compliance with U.S. and foreign laws and regulations, potential sales tax collections and claims for uncollected amounts; cybersecurity risks and risks of damage and interruptions of information technology systems; the Company’s ability to retain key members of management and successfully integrate new executives; the Company’s ability to complete acquisitions, strategic investments, entry into new lines of business, divestitures, mergers or other transactions on acceptable terms, or at all; the impact of the COVID-19 pandemic on the Company’s portfolio companies; the Company’s ability to utilize or assert its intellectual property rights, the impact of natural disasters and other catastrophic events (such as the ongoing COVID-19 pandemic); the adequacy of insurance; the impact of having a controlling stockholder and vulnerability to fluctuation in the Company’s stock price. Given the risks and uncertainties, readers should not place undue reliance on any forward-looking statement and should recognize that the statements are predictions of future results which may not occur as anticipated. Many of the risks listed above have been, and may further be, exacerbated by the ongoing COVID-19 pandemic, its impact on the cinema and entertainment industry, and the worsening economic environment. Actual results could differ materially from those anticipated in the forward-looking statements and from historical results, due to the risks and uncertainties described herein, as well as others not now anticipated. New risk factors emerge from time to time, and it is not possible for management to predict all such risk factors, nor can it assess the impact of all such factors on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Except where required by law, the Company assumes no obligation to update, withdraw or revise any forward-looking statements to reflect actual results or changes in factors or assumptions affecting such forward-looking statements.
STRONG/MDI Screen Systems, Inc. Contact
Francois Barrette
General Manager
450-755-3795
info@strongmdi.com
| Ballantyne Strong Investor Relations Contacts | |||
| Mark Roberson | John Nesbett / Jennifer Belodeau | ||
| Ballantyne Strong, Inc. – Chief Executive Officer | IMS Investor Relations | ||
| 704-994-8279 | 203-972-9200 | ||
| IR@btn-inc.com | jnesbett@institutionalms.com | ||
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/16398eab-9c9e-439f-a984-c8a9668aafa7.
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