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NEW YORK , May 29, 2012 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX; TSX: IMX) andCineworld Group PLC, the UK's largest cinema chain, today announcedan expansion of the companies' revenue sharing agreement with theaddition of up to five new IMAX theatre systems. Under the terms ofthe new agreement, three IMAX theatres will be installed intoexisting Cineworld multiplexes with an option to increase thatnumber to five. The first two theatres systems are scheduled toopen in Enfield and Birmingham in October 2012 , with the remaining system expected to open in Nottingham in the beginning of 2013. (Logo: photos.prnewswire.com/prnh/20111107/MM01969LOGO ) After opening three IMAX theatres since December 2011 in Edinburgh , Crawley and Sheffield , Cineworld is increasing its total IMAX commitment from three tosix (the additional option taking the total to eight). The dealalso brings the total number of IMAX theatres open or contracted toopen in the UK to 22 (24 including the option), 19 of which arecurrently open. "The response from our customers to our recently opened IMAXtheatres has been overwhelmingly positive, and today's agreement isa direct result of our success to date," said Crispin Lilly, VicePresident of Business Affairs, Cineworld Group PLC. "IMAX is a keydifferentiator for our multiplexes and we're delighted to bring theunique, premium, immersive cinematic experience that only IMAXdelivers to a wider audience across the UK." "It's great to see that in such a short time Cineworld is alreadyseeing results with IMAX and adding more theatres to its circuit,which points to a growing momentum for IMAX in EMEA," said IMAXCEO, Richard L. Gelfond . "As one of the region's leading exhibitors, Cineworld is anexcellent partner to help us fully maximize our opportunities inthe key UK market." IMAX's digital theatre system delivers The IMAX Experience andhelps drive profitability for studios, exhibitors and IMAX theatresby eliminating the need for film prints, increasing programflexibility and ultimately increasing the number of movies shown onIMAX screens. The system can run both IMAX and IMAX 3Dpresentations. About Cineworld Group Cineworld Group was founded in 1995 by Steve Wiener , the current Chief Executive, and is now the #1 UK cinema chain byboth box office and admissions. The Group operates 79 cinemasacross the UK & Ireland of which 76 are multiplex sites with five screens or more. In 2007Cineworld successfully floated on the London Stock Exchange. More information can be found at www.cineworld.co.uk About IMAX Corporation IMAX Corporation is one of the world's leading entertainment andtechnology companies, specializing in the creation and delivery ofpremium, awe-inspiring entertainment experiences. With a growingsuite of cutting-edge motion picture and sound technologies, and aglobally recognized entertainment brand, IMAX is singularlysituated at the convergence of the entertainment industry,innovation and the digital media world. The industry's topfilmmakers and studios are utilizing IMAX theatres to connect withaudiences in extraordinary ways, and as such, the IMAX network isamong the most important and successful theatrical distributionplatforms for major event films around the globe. The Company's newdigital projection and sound systems - combined with a growingblockbuster film slate - are fueling the rapid expansion of theIMAX network in established markets such as North America , Western Europe , and Japan , as well as emerging markets such as China and Russia . IMAX deliver the world's best cinematic presentations usingproprietary IMAX , IMAX 3D , and IMAX DMR (Digital Re-Mastering)technologies. IMAX DMR enables virtually any motion picture to betransformed into the unparalleled image and sound quality of TheIMAX Experience . IMAX is headquartered in New York , Toronto and Los Angeles , with offices in London , Tokyo , Shanghai and Beijing. As of March 31, 2012 , there were 643 IMAX theatres (510 commercial multiplex, 20commercial destination and 113 institutional) in 52 countries. IMAX , IMAX 3D, IMAX DMR , Experience It In IMAX , An IMAX 3DExperience and The IMAX Experience are trademarks of IMAXCorporation. More information about the Company can be found at . You may also connect with IMAX on Facebook ( /imax ), Twitter ( /imax ) and YouTube ( /imaxmovies ). This press release contains forward looking statements that arebased on IMAX management's assumptions and existing information andinvolve certain risks and uncertainties which could cause actualresults to differ materially from future results expressed orimplied by such forward looking statements. Important factors thatcould affect these statements include, but are not limited to,general economic, market or business conditions, including thelength and severity of the current economic downturn, theperformance of IMAX DMR films, the opportunities that may bepresented to and pursued by IMAX, competitive actions by othercompanies, conditions in the in-home and out-of home entertainmentindustries, the signing of theatre system agreements, changes inlaw or regulations, conditions, changes and developments in thecommercial exhibition industry, the failure to respond to changesand advancements in digital technology, the failure to converttheatre system backlog into revenue, new business initiatives , investments and operations in foreign jurisdictions and any futureinternational expansion, the inability to protect IMAX'sintellectual property foreign currency fluctuations and IMAX'sprior restatements and the related litigation. These factors andother risks and uncertainties are discussed in IMAX's most recentAnnual Report on Form 10-K and most recent Quarterly Reports onForm 10-Q. For additional information please contact:. We are high quality suppliers, our products such as German Saunas , Single Person Infrared Sauna for oversee buyer. To know more, please visits Single Person Infrared Sauna.
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