STRONG Technical Services, Inc., a wholly-owned subsidiary of
Ballantyne Strong, Inc. (NYSE American: BTN) and a leader in
projection equipment sales, engineering, and services, announces a
multi-year nationwide managed service agreement with Marcus
Theatres®. Effective today STRONG Technical Services (STS) will
become the exclusive provider of managed services for all of Marcus
Theatres’ cinema locations nationwide. These managed services will
include 24x7x365 monitoring, technical support, and maintenance on
all projection and audio equipment across more than 1,100 screens.
“We are proud to serve Marcus Theatres
nationwide,” said Blake Titman, Vice President and General Manager,
STRONG Technical Services. “STRONG Technical Services and Marcus
Theatres have a long-standing partnership, which includes working
together on projects like Parking Lot Cinemas and our Theatre
Readiness Program. STRONG Technical Services’ 24x7x365 support and
nationwide field service capabilities are unmatched when combined
with our integrated technology and product solutions.”
“We appreciate Marcus Theatres choosing STRONG
Technical Services to be its partner for managed services. Marcus
Theatres is the fourth largest cinema operator in the United
States, and we are uniquely positioned to service their needs on a
nationwide basis,” added Ray Boegner, President of STRONG
Entertainment. “Marcus Theatres and STRONG are well known names in
the exhibition industry having both been in the industry for over
eighty years, and the brands are synonymous with first class
quality.”
“Entering a system-wide agreement with STRONG
Technical Services to provide projection and sound service was an
easy decision for us,” said Rolando Rodriguez, chairman, president
& CEO of Marcus Theatres. “We’ve been partners for decades, so
it only makes sense to have STRONG Technical Services provide
network operations center support and service on all non-IMAX
screens for Marcus Theatres and Movie Tavern. We look forward to
the agreement starting September 1.”
Those wishing to obtain more information
regarding the full range of products and services offered by STRONG
Technical Services are invited to contact management directly,
either by phone at (800) 722-4445 or by email at
sales@strong-tech.com. About STRONG Technical
Services
STRONG Technical Services, Inc.
(www.strong-tech.com), a Ballantyne Strong, Inc. company, is an
equipment sales, engineering, and service provider located in
Omaha, NE. The company, with its nationwide service and engineering
team, designs, integrates, and installs technology solutions for a
broad range of applications including audio, projection, and
signage applications with comprehensive managed service offerings
to ensure solution uptime and availability.
About Ballantyne Strong, Inc.
Ballantyne Strong, Inc.
(www.ballantynestrong.com) and its subsidiaries engage in diverse
business activities including the design, integration and
installation of technology solutions for a broad range of
applications; development and delivery of out-of-home messaging,
advertising and communications; manufacturing of projection
screens; and providing managed services including monitoring of
networked equipment. The Company focuses on serving the
entertainment, retail and advertising markets.
About The Marcus
Corporation
Headquartered in Milwaukee, The Marcus
Corporation is a leader in the lodging and entertainment
industries, with significant company-owned real estate assets. The
Marcus Corporation’s theatre division, Marcus Theatres®, is the
fourth largest theatre circuit in the U.S. and currently owns or
manages 1,110 screens at 91 locations in 17 states under the Marcus
Theatres, Movie Tavern® and BistroPlex® brands. The company’s
lodging division, Marcus® Hotels & Resorts, owns and/or manages
18 hotels, resorts and other properties in eight states. For more
information, please visit the company’s website at
www.marcuscorp.com.
Forward-Looking Statements
This press release may include forward-looking
statements, such as our expectations regarding future sales, the
impact, length and severity of the COVID-19 pandemic, and the
adequacy of the actions taken in response to the pandemic, which
involve a number of risks and uncertainties, 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, 2019, Part II, Item 1A of the
Company’s Quarterly Report on Form 10-Q for the quarterly period
ended June 30, 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 access to capital, the Company’s ability to successfully
execute its capital allocation strategy, 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 recession 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 companies in which the
Company holds investments, 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
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 Technical Services
ContactBlake TitmanStrong Technical Services, Inc.Vice
President - General Manager(800)
722-4445blake.titman@strong-tech.com
Ballantyne Strong Contact Mark
RobersonBallantyne Strong, Inc.Chief Executive Officer (704)
994-8279 IR@btn-inc.com
Investor Relations ContactJohn Nesbett/Jennifer
BelodeauIMS Investor Relations(203)
972-9200jnesbett@institutionalms.com
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