IMAX Signs German Agreement

The European expansion continues after opening locations in the U.K. and France

An IMAX theater will be installed in northern Germany by then end of 2010, and plans are underway for at least four more in that country in an agreement with CinemaxX AG, IMAX Corporation announced on Wednesday.

The deal marks IMAX’s first joint venture agreement in Germany and builds on the company’s ongoing network expansion across Europe following the successful roll-out of IMAX theatres with leading exhibitors in the United Kingdom, The Netherlands and France.

“We are excited to be ‘seeding’ the German market with our new joint venture partner CinemaxX,” said IMAX CEO Richard L. Gelfond. “Germany is a large and under-penetrated market for IMAX, and we are pleased to further our development there with a key and established exhibitor partner."

“We have seen strong results in our long-operating Potsdamer Platz IMAX in Berlin, and this new initiative will enable us to start bringing the 'IMAX Experience' to more cinema goers across Germany,” added Larry T. O’Reilly, IMAX’s Executive Vice President, Theatre Development.

CinemaxX AG is a well-known operator of multiplex cinemas in Germany. In total, the company has 34 cinemas with 298 screens and capacity for around 80,000 people in Germany and Denmark.

As of June 30, 2010, there were 447 IMAX theatres operating in 47 countries. This agreement brings the total number of IMAX theatres scheduled to be operating in the Europe, Middle East and Russia region to 115.