News





EDC provides $11 million to Mexico's Cinepolis

Aug 15, 2014

Export Development Canada (EDC) announced US$11 million in financing for Mexico’s Cinépolis Group, the fourth-largest movie theatre operator in the world and the largest in Latin America. 

The financing, which is being provided as part of a larger facility loan for Cinépolis, will serve to strengthen the business relationship between Cinépolis and Canada’s IMAX Corp. IMAX currently has 14 specialized theatres located in Cinépolis multiplexes, 13 in Latin America and one in India. Plans are in place between the two companies for 11 new theatres to be built by 2015 in various locations around the world, and discussions have already begun regarding additional theatres in the future.

"We've been more aggressive recently in the Latin American market, with triple the amount of signings in 2013 from 2012," said IMAX CEO Richard L. Gelfond. "We're pleased to see our efforts coming to fruition in our relationship with Cinépolis and we expect the region to provide further growth for us as the appetite for the IMAX Experience increases among developers, exhibitors and consumers."

In the last five years, Cinépolis has averaged a sales growth of over 20 percent per year. “One of our success factors has been our focus on innovation, and IMAX is an integral part of how we’re delivering on this front,” said Alejandro Ramirez, CEO of Cinépolis Worldwide. “IMAX gives us a competitive advantage that drives stronger performance at our multiplexes and we look forward to bringing the world’s most immersive cinematic experience to more theatres across our network.”


EDC provides $11 million to Mexico's Cinepolis

Aug 15, 2014

Export Development Canada (EDC) announced US$11 million in financing for Mexico’s Cinépolis Group, the fourth-largest movie theatre operator in the world and the largest in Latin America. 

The financing, which is being provided as part of a larger facility loan for Cinépolis, will serve to strengthen the business relationship between Cinépolis and Canada’s IMAX Corp. IMAX currently has 14 specialized theatres located in Cinépolis multiplexes, 13 in Latin America and one in India. Plans are in place between the two companies for 11 new theatres to be built by 2015 in various locations around the world, and discussions have already begun regarding additional theatres in the future.

"We've been more aggressive recently in the Latin American market, with triple the amount of signings in 2013 from 2012," said IMAX CEO Richard L. Gelfond. "We're pleased to see our efforts coming to fruition in our relationship with Cinépolis and we expect the region to provide further growth for us as the appetite for the IMAX Experience increases among developers, exhibitors and consumers."

In the last five years, Cinépolis has averaged a sales growth of over 20 percent per year. “One of our success factors has been our focus on innovation, and IMAX is an integral part of how we’re delivering on this front,” said Alejandro Ramirez, CEO of Cinépolis Worldwide. “IMAX gives us a competitive advantage that drives stronger performance at our multiplexes and we look forward to bringing the world’s most immersive cinematic experience to more theatres across our network.”

More Cinemas

CJ 4DX receives 'Cinema Innovation of the Year' award

CJ 4DPLEX’s 4DX received the "Cinema Innovation of the Year” award from the International 3D and Advanced Imaging Society More »

CineAsia to honor Major Cineplex's Vicha Poolvarluk

Vicha Poolvarluk, chairman of Major Cineplex Group, will receive the 2014 “Exhibitor of the Year” Award at CineAsia More »

Event cinema nominations are announced

The Event Cinema Association announced the nominations for its second annual ECA Awards More »

Australian International Movie Convention announces diverse program

The 69th Australian International Movie Convention will be held Oct. 12-16 at Jupiters Hotel & Casino More »

ADVERTISEMENT



REVIEWS

The Equalizer Review
Film Review: The Equalizer

Former agent is drawn out of hiding to fight a Russian gang in a reboot of the 1980s television series. More »

The Boxtrolls
Film Review: The Boxtrolls

Another amazingly meticulous and stylish stop-motion tale from the Laika studio, this time focusing on a boy adopted by a population of maligned underground trolls. More »

Player for the Film Journal International website.


ADVERTISEMENT



INDUSTRY GUIDES

» Blue Sheets
FJI's guide to upcoming movie releases, including films in production and development. Check back weekly for the latest additions.

» Distribution Guide
» Equipment Guide
» Exhibition Guide

ORDER A PRINT SUBSCRIPTION

Film Journal International

Subscribe to the monthly print edition of Film Journal International and get the full visual impact of this valuable resource for the cinema business.

» Click Here

SPONSORSHIP OPPORTUNITIES

Learn how to promote your company at the Film Expo Group events: ShowEast, CineEurope, and CineAsia.

» Click Here