China Film Group Selects Ballantyne Strong to Provide and Install 160 Digital Cinema Projectors in Mainland China
September 17 2009 - 8:33AM
Business Wire
Ballantyne Strong, Inc. (NYSE Amex: BTN), a provider of digital
cinema projection equipment and services, cinema screens and other
cinema products, announced today that its Strong Westrex China
subsidiary has been selected to provide and install 160 NEC Digital
Cinema projectors for China Film Group Corp in locations across The
People’s Republic of China (PRC). Ballantyne currently expects to
ship and install up to half the machines in 2009, with initial
shipments anticipated as early as Q3, and expects to ship and
install the remaining projectors in 2010. The agreement follows an
initial 100-projector order that was completed during Q2 2009.
John P. Wilmers, President and Chief Executive Officer of
Ballantyne, commented, “We are excited to build upon our
longstanding relationship with China Film Group and expand our
presence with this contract, our second digital projector
deployment in the PRC. China continues to represent a very
attractive market for our company, with approximately 6,000 cinema
screens and expectations for continued expansion of that base over
the coming years. We are confident that the high quality and
performance of the NEC digital projector systems, combined with
Strong Westrex’s technical service capabilities will ensure ongoing
success in this region. We look forward to working with China Film
Group and their partners to support their ongoing digital cinema
needs.”
In late 2008, Ballantyne executed an agreement with NEC Display
Solutions Japan granting Strong Westrex distribution rights to
NEC’s line of digital cinema projectors for the PRC. Ballantyne
opened a sales and service office in Beijing and is now working
toward the opening of additional offices in the PRC and elsewhere
in Asia in 2010.
About China Film Group Corp.
China Film Group Corporation (“CFG”) is China’s largest and most
influential state-run film enterprise and the sole importer of
foreign films in China. CFG's scope of business spans film and
television production, film distribution and exhibition, film
importation and exportation, cinema circuit management, digital
cinema construction, movie channel, print developing and
processing, film equipment management, digital film production,
film and TV compact disc production, ancillary products,
advertising, property management as well as real estate.
About Ballantyne Strong, Inc.
Ballantyne Strong is a provider of digital cinema projection
equipment and services as well as cinema screens, motion picture
projectors and specialty lighting equipment and services. The
Company supplies major and independent theater chains, top arenas,
theme parks and architectural sites around the world. For more
information visit www.ballantyne-strong.com.
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.
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