IMAX to Open Its First Theaters in Mongolia

IMAX (NYSE: IMAX  ) is expanding its global reach deep into Asia. The company announced that, in collaboration with a local partner, it will open its first movie theaters in Mongolia. The pair will be located in new construction projects in the capital city, Ulan Bator. IMAX did not specify when it expected the facilities to open.

The company's partner in the project is New Tour Safaris, operator of what IMAX says is the largest film exhibition and entertainment firm in the country, Urgoo Cinemas.

In the press release heralding the news, IMAX touted the growth potential of the country. It quoted its President of EMEA, Andrew Cripps, as saying that it was "delighted to join forces with the nation's top exhibitor to bring IMAX to moviegoers in Mongolia – one of the world's fastest-growing economies and a market which we believe holds tremendous potential."

With the new Mongolian theaters, IMAX will have a presence in 58 countries across the globe.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2885907, ~/Articles/ArticleHandler.aspx, 8/22/2014 3:28:37 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement