Beverly Hills, Calif.-based RealD (NYSE:RLD) has already installed its RealD 3D cinema technology in 23,500 theaters around the globe. This week, it announced it's planning to up that total by another 200 screens in Russia.
On Thursday, RealD announced a deal to equip 200 Cinema Park screens with its cinema tech in Russian cities over the next five years. Installations have already begun, says RealD, and the company expects one of its bigger projects for Cinema Park, "LUXE: A RealD Experience" Premium Large Format (PLF) auditorium to be built at Cinema Park's Grand Canyon theater location in St. Petersburg, Russia, to open to the public this winter. The LUXE auditorium includes "floor-to-ceiling RealD Precision White Screen, ultra bright 2D and RealD 3D, enveloping audio and luxury seating," according to the company.
Cinema Park bills itself as the "leading national cinema circuit" in Russia, the biggest chain by both number of screens in service, and also what it calls "pace of digitalization." It operates 281 screens total in 18 Russian cities, with 226 of these able to show 3D movies -- so the majority of these are going to be upgraded with RealD's technology.
Cinema Park is owned by ProfMedia, a subsidiary of the INTERROS financial-industrial group, which also owns stakes in such varied enterprises as real estate firm ProfEstate and metals and mining giant Norilsk Nickel.
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.