IMAX to Install Even More Theaters in Russia

New 8-theater pact means company will have 46 operating in region by 2014

IMAX announced on Tuesday a deal with a Russian theater chain to install eight new Imax digital theaters over the next two years.

As part of IMAX’s agreement with Cinema Park — a chain owned by Profmedia, Russia's largest media holding company — the new theaters will be installed in Kaliningrad, Ulyanovsk, Omsk, Krasnoyarsk, Tula, Penza, Stavropol and Irkutsk.

The deal is in addition to the 10-theater agreement the two companies signed last summer — meaning that by 2014, there will be a total of 26 IMAX theatres operating in Russia and the Commonwealth of Independent States (CIS).

The region is currently home to 17.

Tuesday's announcement is a continuation of IMAX's global expansion strategy. Last year, IMAX signed agreements to install more than 100 new theaters worldwide.

As of December 31, 2010, there were 518 IMAX theatres operating in 46 countries.