STRONG/MDI to Supply Screens to IMAX to Support Recently Announced Japan Expansion
JOLIETTE, Quebec, Feb. 03, 2023 (GLOBE NEWSWIRE) -- STRONG/MDI Screen Systems, Inc. (“STRONG/MDI”) a wholly-owned subsidiary of FG Group Holdings Inc. (“FG Group Holdings”) (NYSE American: FGH) and a leader in manufacturing state-of-the-art cinema screens announces that it will supply IMAX with seven high quality screens to support their recently announced plans for new, state-of-the-art IMAX® with Laser systems, to be installed across Japan this year.
These new locations will be equipped with IMAX with Laser technology, IMAX's most advanced theatre experience. Immersive by design, IMAX with Laser has been developed from the ground-up to deliver crystal clear, lifelike images and precision audio for a moviegoing experience unlike anything else. STRONG/MDI’s proprietary screens are specifically designed to optimize the digital viewing experience.
“The movie industry is coming back to life, and we are pleased to work alongside IMAX to support their growth,’’ stated François Barrette, Senior Vice President & General Manager of STRONG/MDI. “We are proud to support their expansion in the Japanese market and all over the world.”
“STRONG/MDI is committed to providing IMAX with premium products that support the company’s innovative approach to immersive theatre,” commented Ray Boegner, President of Strong Entertainment. “There is only one IMAX and we truly appreciate their trust and confidence in STRONG/MDI and our products.”
Those looking for more information on cinema product developed by STRONG/MDI Screen Systems can contact the sales team by phone at +01 450 755-3795 or via email firstname.lastname@example.org.
About FG Group Holdings Inc. and STRONG/MDI Screen Systems, Inc.
FG Group Holdings Inc. is a diversified holding company with operations and investments across a broad range of industries. The Company’s Strong Entertainment business unit includes STRONG/MDI Screen Systems (www.strongmdi.com), the leading premium screen and projection coatings supplier in the world and Strong Technical Services (www.strong-tech.com), which provides comprehensive managed service offerings with 24/7/365 support nationwide to ensure solution uptime and availability. FG Group Holdings also holds equity stakes in GreenFirst Forest Products Inc., Firefly Systems, Inc., and FG Financial Group, Inc., as well as real estate through its Digital Ignition operating business.
About Fundamental Global®
Fundamental Global® is a private partnership focused on long-term strategic holdings. Fundamental Global® was co-founded by former T. Rowe Price, Point72 and Tiger Cub portfolio manager Kyle Cerminara and former Chairman and CEO of TD Ameritrade, Joe Moglia. Its current holdings include FG Financial Group Inc. (Nasdaq:FGF), (NASDAQ: FGFPP), FG Group Holdings Inc. (NYSE American:FGH), BK Technologies Corp. (NYSE American:BKTI), GreenFirst Forest Products, Inc. (TSX:GFP), FG Merger Corp. (Nasdaq:FGMC), FG Acquisition Corp. (TSX:FGAA), OppFi Inc., Hagerty Inc., and FG Communities, Inc.
The FG® logo is a registered trademark of Fundamental Global®.
About IMAX Corporation
IMAX, an innovator in entertainment technology, combines proprietary software, architecture, and equipment to create experiences that take you beyond the edge of your seat to a world you've never imagined. Top filmmakers and studios are utilizing IMAX theaters to connect with audiences in extraordinary ways, and, as such, IMAX's network is among the most important and successful theatrical distribution platforms for major event films around the globe.
IMAX is headquartered in New York, Toronto, and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of June 30, 2021, there were 1,654 IMAX theater systems (1,569 commercial multiplexes, 12 commercial destinations, 73 institutional) operating in 85 countries and territories. Shares of IMAX China Holding, Inc., a subsidiary of IMAX Corporation, trade on the Hong Kong Stock Exchange under the stock code "1970."
This press release includes forward-looking statements which involve a number of risks and uncertainties, including but not limited to those discussed in the “Risk Factors” section contained in Item 1A in FG Group Holdings’ (previously Ballantyne Strong, Inc.) Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on March 24, 2022, and the following risks and uncertainties: the negative impact that the COVID-19 pandemic has already had, and may continue to have, on the Company’s business and financial condition; the general economic impact of the current geopolitical environment, including the ongoing military conflict in Ukraine and the impact of related sanctions being imposed by the U.S. Government and the governments of other countries; the Company’s ability to maintain and expand its revenue streams to compensate for the lower demand for the Company’s digital cinema products and installation services; potential interruptions of supplier relationships or higher prices charged by suppliers; the Company’s ability to successfully compete and introduce enhancements and new features that achieve market acceptance and that keep pace with technological developments; the Company’s ability to successfully execute its capital allocation strategy or achieve the returns it expects from these holdings; the Company’s ability to maintain its brand and reputation and retain or replace its significant customers; challenges associated with the Company’s long sales cycles; the impact of a challenging global economic environment or a downturn in the markets (such as the current economic disruption and market volatility generated by the ongoing COVID-19 pandemic and geopolitical environment); economic and political risks of selling products in foreign countries (including tariffs); risks of non-compliance with U.S. and foreign laws and regulations, potential sales tax collections and claims for uncollected amounts; cybersecurity risks and risks of damage and interruptions of information technology systems; the Company’s ability to retain key members of management and successfully integrate new executives; the Company’s ability to complete acquisitions, strategic investments, entry into new lines of business, divestitures, mergers or other transactions on acceptable terms, or at all; the impact of the COVID-19 pandemic and the current geopolitical tension and related sanctions on the companies in which the Company holds equity stakes; the Company’s ability to utilize or assert its intellectual property rights, the impact of natural disasters and other catastrophic events (such as the ongoing COVID-19 pandemic or the ongoing military conflict in Ukraine); the adequacy of insurance; the impact of having a controlling stockholder and vulnerability to fluctuation in the Company’s stock price. Given the risks and uncertainties, readers should not place undue reliance on any forward-looking statement and should recognize that the statements are predictions of future results which may not occur as anticipated. Many of the risks listed above have been, and may further be, exacerbated by the COVID-19 pandemic, its impact on the cinema and entertainment industry, and general economic conditions, including the ongoing military conflict in Ukraine and related sanctions, such as inflationary pressures and disruptions in the global supply chain and the worsening economic environment. Actual results could differ materially from those anticipated in the forward-looking statements and from historical results, due to the risks and uncertainties described herein, as well as others not now anticipated. New risk factors emerge from time to time, and it is not possible for management to predict all such risk factors, nor can it assess the impact of all such factors on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Except where required by law, the Company assumes no obligation to update, withdraw or revise any forward-looking statements to reflect actual results or changes in factors or assumptions affecting such forward-looking statements.
STRONG/MDI Screen Systems, Inc. Contact
Senior Vice President & General Manager
FG Group Holdings Investor Relations Contacts
John Nesbett / Jennifer Belodeau
FG Group Holdings Inc. - Chief Executive Officer
IMS Investor Relations