Joliette, Quebec, Canada – April 26, 2022 – STRONG/MDI Screen Systems, Inc. (“STRONG/MDI”) a wholly-owned subsidiary of Ballantyne Strong, Inc. (“Ballantyne Strong” or the “Company”) (NYSE American: BTN) and a leader in manufacturing state-of-the-art cinema screens, announced today that it has entered into a cooperative agreement with Lemmens S.A., located in Sprimont, Belgium, to facilitate expedited screen shipments for cinema industry customers in Europe and the Middle East.
The new agreement will utilize Lemmens’ modern high-tech facility and STRONG/MDI’s proprietary screen manufacturing processes to facilitate quick-ship screen deliveries to cinema operators in Europe and the Middle East. Customers with requirements for urgent screen deliveries will be able to receive shipments in less than ten days from the new quick-ship program.
“We are delighted with this new collaboration, which we believe will greatly reduce waiting and delivery times for urgent screen orders for clients in Europe and the Middle East,” said François Barrette, Senior Vice President & General Manager for STRONG/MDI. “In helping to eliminate unnecessary delays, we see this agreement as highly beneficial to our valued customers in these expanding exhibition sectors.”
“We have searched long and hard over the past couple of years for the right solution to provide our exhibitors in Europe and the Middle East with STRONG/MDI screens through an expedited quick-ship program. We now have the answer with our new partnership with Lemmens in Belgium,” said Ray Boegner, President of STRONG/MDI.
“We’re happy to be working with STRONG/MDI in this arrangement that will allow us to develop a new division within our company and apply our years of experience in processing and delivering quality products throughout the regions we service and beyond!” stated Mr. Francy Lemmens, Managing Director of Lemmens S.A. “Our entire team is looking forward to working with STRONG/MDI to provide this valuable service to our customers in the EMEA market.”
The new quick-ship program is expected to be on-line and operational by June 1, 2022.
Those looking for more information on 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. For EMEA customers, please contact Mr. Bernard Collard at +32 477 49 49 39 or via email email@example.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities of Ballantyne Strong or any of its subsidiaries, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Ballantyne Strong, 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.
About Lemmens S.A.
Founded in 1919 by a single man, the Lemmens company today has more than 60 employees in Belgium, France and Luxembourg and remains one of the last Belgian companies active in the field of wire rope processing. The company, which was only a small local business in its beginnings, gradually adapted to market demands and trends, thus extending its activity to all lifting and handling products, while maintaining its unique expertise in the field of cable and its transformation. Utilizing their experienced staff and advanced high frequency welding technologies, Lemmens has grown into one of the industry leaders in fabricating custom tarpaulins and tents in Western Europe. More information about the Company can be found at www.lemmens-cables.be/.
In addition to the historical information included herein, this press release includes forward-looking statements, such as management’s expectations regarding its portfolio companies, the Company’s intent to pursue an initial public offering and separate listing of its Entertainment business, as well as future sales, the impact, length and severity of the COVID-19 pandemic, general economic recovery from the effects of the COVID-19 pandemic, and the adequacy of the actions taken in response to the pandemic, 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 the Company’s 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 impact on the global economy and supply chains of the ongoing military conflict in Ukraine and the sanctions related thereto; 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 investments; 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 ongoing military conflict in Ukraine and related sanctions); 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 on the Company’s portfolio companies; 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 and ongoing military conflict in Ukraine and related sanctions); 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 ongoing COVID-19 pandemic, its impact on the cinema and entertainment industry, 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
Ballantyne Strong Investor Relations Contacts
Ballantyne Strong, Inc. – Chief Executive Officer
John Nesbett / Jennifer Belodeau
IMS Investor Relations