Preferential relationship enables increased support for the leading cinema solutions
Charlotte, NC – August 26, 2021 – Ballantyne Strong (NYSE American: BTN) (the “Company” or “Ballantyne Strong”) today announced a preferred commercial relationship with Cinionic, the world’s leading provider of laser cinema solutions, to strengthen Cinionic’s cinema service and solution capabilities in the US and Canada. The relationship is with Ballantyne Strong’s operating subsidiaries, Strong Technical Services, Inc. (“STS”) and Strong/MDI Screen Systems, Inc. (“Strong/MDI”), and continues a long history of collaboration between the companies, reinforcing their joint commitment to deliver laser-powered cinema experiences.
As part of the relationship, more than 40 STS technicians will join Cinionic’s trusted cinema service network looking after exhibitors across North America. Leveraging a legacy of cooperation between the companies, the bolstered cinema service operations provide reliable care for cinemas as moviegoers continue to return to the big screen. The STS field team will receive customized training as an install and servicing partner for all Cinionic’s experience-enhancing cinema solutions, from boutique environments to giant screens.
“Today, more than ever, we need to be ready to support one another as an industry,” said Wim Buyens, CEO of Cinionic. “Cinionic is committed to delivering peace of mind for exhibitors. With Ballantyne Strong’s team of experts and our shared mission to power a bright future for cinema, we continue to serve the exhibition community today and tomorrow.”
“We are pleased to have this opportunity to expand our collaboration with Cinionic, to continue providing the industry with a premium cinema experience,” added Mark Roberson, Chief Executive Officer of Ballantyne Strong. “The relationship enhances our ability to service our valued customers and strengthens our global reach.”
Cinionic and Ballantyne Strong will continue to collaborate on new opportunities that leverage Cinionic’s laser-powered solution portfolio – enriching the installation and service capabilities for mutual customers.
“The agreement between Cinionic, STS, and Strong/MDI solidifies an already robust working relationship between industry leaders as we both seek to provide our cinema clients with the best possible solutions to enhance their customer moviegoing experience,” commented Ray Boegner, President of Strong Entertainment. “The combined efforts of our companies will benefit existing and future customers of both companies as the industry moves forward.”
About Ballantyne Strong, Inc., Strong Technical Services, Inc. and Strong/MDI Screen Systems, Inc.
Ballantyne Strong, 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. Ballantyne Strong also holds stakes in GreenFirst Forest Products Inc., Firefly, Inc, and FG Financial Group, Inc.
Founded in 2018 as a cinema joint venture between Barco, CGS, and ALPD, Cinionic unites global leaders committed to creating a new visual standard and moving the cinema industry forward. Cinionic’s future-ready enhanced services and technology solutions provide compelling cinema experiences. The company’s world-class technology portfolio includes award-winning laser projectors, HDR, integrated media servers, and premium cinema experiences, among other innovations.
With more than 95,000 projectors installed globally, Cinionic is trusted by more than 200 exhibitors to help capture audiences at multiple touchpoints in their cinema journey and keep them coming back for more. Today, more than half of the world’s movie theaters are illuminated by Cinionic.
This press release includes forward-looking statements, such as Ballantyne Strong’s expectations regarding future sales, 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 Ballantyne Strong’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission (SEC) on March 10, 2021, as supplemented by the Company’s Amendment No. 1 on Form 10-K/A filed with the SEC on April 28, 2021, Ballantyne Strong’s subsequent filings with the SEC, and the risks and uncertainties that the COVID-19 pandemic has already had, and may continue to have, on Ballantyne Strong’s business and financial condition. Except where required by law, the Ballantyne Strong 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.
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