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Ballantyne Strong (NYSE American: BTN) announced the appointment of Michael C. Mitchell and Larry G. Swets, Jr. to its Board of Directors. Mitchell, a financial professional, brings experience from roles at Locust Wood Capital and Breeden Capital, and is currently COO at Children's Eye Care of Northern Colorado. Swets has 25 years in financial services, notably as CEO at FG Financial Group and holds board positions at other public companies. Chairman Kyle Cerminara expressed confidence that their expertise will benefit the company at this pivotal time.
Strong/MDI Screen Systems, a subsidiary of Ballantyne Strong (NYSE American: BTN), congratulated its partner Kinepolis Leidschendam for winning the ICTA EMEA New Build Cinema of the Year Award.
Strong/MDI equipped all 11 theaters with advanced projection screens, enhancing the cinematic experience. According to François Barrette, the General Manager, the company's screens meet high-quality demands for modern cinema presentations.
The award was presented at the ICTA ceremony held on October 3, 2021, in Barcelona, recognizing Kinepolis for its leadership in innovative cinema technology.
Strong/MDI Screen Systems, a subsidiary of Ballantyne Strong (NYSE American: BTN), has partnered with IMAX to install the world’s largest IMAX screen at the Traumpalast Multiplex in Leonberg, Germany. This record-breaking screen measures 69 feet in height and 125 feet in width, weighing over 500 pounds. Strong/MDI developed a specialized wide viewing angle coating for this project. The new IMAX installation aims to enhance audience experiences, marking a significant achievement in cinema technology.
Ballantyne Strong's subsidiary, Strong/MDI Screen Systems, has appointed Dennis Pacelli as the new National Cinema Sales Manager for the U.S., effective September 13, 2021. Pacelli brings extensive experience from his previous roles at Harkness Screens USA and Electrohome. His appointment is aimed at strengthening sales initiatives and client acquisitions in the region. The company aims to solidify its position as the leading cinema screen provider in the U.S. market, with an emphasis on enhancing customer experience and business growth.
Ballantyne Strong announced a preferred commercial relationship with Cinionic to enhance cinema solutions in the US and Canada. Over 40 technicians from Strong Technical Services will join Cinionic's service network, ensuring reliable support for cinemas as audiences return. The partnership aims to deliver premium cinema experiences, with customized training for STS technicians on Cinionic's laser-powered solutions. This collaboration continues a history of shared goals, focusing on providing exceptional service to both existing and future cinema clients.
Strong/MDI Screen Systems, a company under Ballantyne Strong, launched its HGA ReAct screen, designed for high-resolution laser projectors. This new screen enhances light diffusion and provides top-quality results for both 2D and passive 3D projections, claiming one of the industry's highest 3D contrasts. General Manager François Barrette emphasized the screen's superior image quality compared to existing options. The HGA ReAct is positioned to meet the demands of major exhibitors and will be showcased at CinemaCon in Las Vegas from August 24-26, 2021.
Ballantyne Strong (NYSE American: BTN) reported impressive financial growth for Q2 2021, with revenues soaring by 138.3% to $6.1 million, primarily due to increased demand for its Strong Entertainment services. Gross profit margins improved to 40.4%, reflecting robust operational recovery. The company is pursuing an IPO for Strong Entertainment, predicting strong cinema attendance driven by upcoming blockbuster releases. Additionally, Firefly Systems acquired Curb Media, expanding its technology network, while FG Financial completed a SPAC business combination, enhancing its portfolio.
Ballantyne Strong (NYSE American: BTN) announced the exercise of 8.3 million rights in GreenFirst Forest Products' rights offering, investing $12.4 million CAD to support GreenFirst's asset acquisition from Rayonier Advanced Materials. This increases Ballantyne's holdings in GreenFirst to approximately 15.3 million shares, or about 10% of total shares post-offering. Following the rights sale, Ballantyne's cash position remains at around $10 million USD. CEO Mark Roberson expressed optimism about GreenFirst's future in the Canadian lumber market.
Ballantyne Strong (NYSE American: BTN) announced plans for an initial public offering (IPO) of its Strong Entertainment business through a newly-created subsidiary. The IPO is expected in 2021, pending market conditions, with details on security classes and pricing yet to be determined. The company intends to maintain majority ownership. This announcement follows their ongoing consolidation approach for financial reporting. The release incorporates forward-looking statements that highlight potential risks related to the IPO and broader market conditions.
Ballantyne Strong, Inc. (NYSE American: BTN) announced the release of its 2021 second-quarter financial results scheduled for August 10, 2021. Investors can access the financial results and a slide presentation on the Company’s website after market close. A related conference call will occur at 5:00 PM ET on the same day, available via live webcast or phone. The call will discuss the financial insights of the period. Ballantyne Strong operates in various industries, including cinema and digital advertising, holding significant investments in Firefly Systems and GreenFirst Forest Products.
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