IMAX(R) Launches in the People's Republic of China
IMAX Makes Its China Debut at the Shanghai Science & Technology Museum
IMAX Corporation (Nasdaq: IMAX; TSX: IMX), officially launched its world-leading cinematic technology today in the People's Republic of China, with the formation of its China operations and Asian headquarters in Shanghai. This was announced by IMAX Corporation Co-Chair & Co-CEO, Richard L. Gelfond at an event celebrating The IMAX Experience(R) in China, the establishment of IMAX Asia operations at the renowned Shanghai Science & Technology Museum and the screening of the IMAX premiere film, China: The Panda Adventure."IMAX Corporation's commitment to China has never been stronger and we are proud to establish our Asian headquarters at the Shanghai Science & Technology Museum," said Richard L. Gelfond. "IMAX is committed to working together with municipal authorities towards the development of world-class museums and science centers, that provide the Chinese market with key venues to educate and stimulate the imagination."
The IMAX Shanghai Office will undertake the task of working together with 'world-class' standard science centers throughout China to enhance their facilities by providing the world's leading entertainment technology. As an integral part of science centers and museums around the world, IMAX aims to bring a unique educational experience and provide wholesome family entertainment across all ages nationwide. Don Savant, Vice President & General Manager for Asia Pacific, will head the newly established Asia Pacific Shanghai headquarters.
IMAX plans to roll out IMAX theatres throughout China and has recently signed an agreement with the Heilongjiang Science & Technology Museum to build an IMAX theater in its new science center. Slated to open in 2003, the Heilongjiang Science & Technology Museum is located in Harbin City in Northern China. IMAX has also finalized an agreement with Golden Harvest Entertainment to develop a commercial cinema at the Peace Cinema site in Puxi, Shanghai, which is scheduled to open in 2003. In addition, IMAX completed an agreement with the Shanghai Film & TV group for a Race For Atlantis attraction, a motion simulation ride that incorporates an IMAX 3D Dome theatre, which is slated to open in Shanghai in 2003.
To underscore the corporation's expansion strategy in China, IMAX is hosting a symposium themed "The Future of Museums and Science Centers" that will be held at the Shanghai Science & Technology Museum and attended by key representatives from science museums and centers across numerous cities in China. The symposium aims to familiarize these institutions with The IMAX Experience and showcase IMAX as an educational and entertainment tool. Mr. Gary Beer, CEO of Smithsonian Business Ventures and Mr. Richard L. Gelfond, along with others, will speak at the symposium.
In addition to the symposium, IMAX will be hosting a VIP gala screening of China: The Panda Adventure, a recently-produced IMAX film that combines spectacular never-before-filmed images of China, breathtaking scenes of Giant Pandas and an incredible true story of hope, courage and triumph of the human spirit. Trane, An American Standard Company (NYSE: ASD), has supported the efforts of the World Wildlife Fund, San Diego Zoo and the Chinese government to educate the public about the importance of protecting one of the most beloved endangered species in the world, the Giant Panda, through its worldwide sponsorship of this movie.
About IMAX Corporation
Founded in 1967, IMAX Corporation is one of the world's leading entertainment technology companies. IMAX's businesses include the world's best cinematic presentations together with IMAX, IMAX 3D and the development of the highest quality digital production and presentation. IMAX has developed revolutionary technology called IMAX(R) DMR(TM) (Digital Re-mastering) that will make it possible for any 35mm film to be transformed into the unparalleled image and sound quality of The IMAX Experience(R). The IMAX brand is recognized throughout the world for extraordinary and immersive family experiences. As of March 2002, there were more than 225 IMAX theatres operating in 30 countries. More than 700 million people have seen an IMAX presentation since the medium premiered in 1970. IMAX(R) is a registered trademark of IMAX Corporation. More information on the Company can be found at http://www.imax.com.
SOURCE IMAX Corporation
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