STRONG/MDI Screen Systems Signs Exclusive Screen Supply Agreement with Marcus Theatres
Ballantyne Strong (NYSE: BTN) announces a three-year exclusive supply agreement with Marcus Theatres for cinema screens by its subsidiary, STRONG/MDI Screen Systems. This partnership aims to enhance cinema presentation quality across the U.S., reflecting a strong commitment from both firms. Continuation of their longstanding relationship signifies confidence in STRONG/MDI’s technology. The agreement is expected to bolster operational growth as cinema circuits upgrade their offerings, driving potential revenue increases for BTN.
- Exclusive three-year supply agreement with Marcus Theatres enhances market position.
- Strengthens long-term partnership, reflecting confidence in STRONG/MDI's technology.
- Potential revenue growth from an expanding customer base as cinemas upgrade.
- None.
CHARLOTTE, N.C., Dec. 06, 2022 (GLOBE NEWSWIRE) -- STRONG/MDI Screen Systems, Inc. (“STRONG/MDI”) a wholly-owned subsidiary of Ballantyne Strong, Inc. (“Ballantyne Strong”) (NYSE American: BTN) and a leader in manufacturing of state-of-the-art Cinema Screens announced it has signed an exclusive three-year cinema screen supply agreement with Marcus Theatres.
Ray Boegner, President of Strong Entertainment, commented, “We are pleased to continue our long-running partnership with Marcus Theatres, helping them provide a premium cinema experience to their customers in their theatres across the United States. We continue to partner with leading cinemas to provide them with the best in projection screen quality and technology, and we look forward to expanding our partnership network as more and more cinemas throughout the U.S. and globally look to upgrade their offerings.”
“Marcus Theatres is a well-known and respected cinema circuit with a strong customer base and presence throughout the U.S.,” stated Francois Barrette, General Manager of Strong/MDI. “This exclusive partnership with Marcus Theatres is a testament to their continued belief in Strong/MDI products and their commitment to delivering the best in screen presentation technology to their customers in all of their cinemas nationwide.”
“We are thrilled to be offering STRONG/MDI screens in our cinemas,” said Mark Gramz, president of Marcus Theatres. “Strong/MDI screens represent the highest standard of screen presentation technology available today, and we are pleased to be providing this to customers at our locations across the United States.”
Those looking for more information on STRONG/MDI can contact the sales team by phone at +1-450-755-3795 or via email info@strongmdi.com.
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 Marcus Theatres
Marcus Theatres®, a division of The Marcus Corporation, is the fourth largest theatre circuit in the United States and currently owns or operates 1,064 screens at 85 locations in 17 states under the Marcus Theatres, Movie Tavern® by Marcus and BistroPlex® brands. For more information, please visit www.marcustheatres.com and follow the company on Facebook and Twitter (@Marcus_Theatres).
Forward-Looking Statements
This press release may contain “forward-looking statements.” All statements, other than statements of historical facts, are forward-looking statements. The Company may, in some cases, use words such as “project,” “believe,” “anticipate,” “plan,” “expect,” “estimate,” “intend,” “should,” “would,” “could,” “potentially,” “will” or “may,” or other words that convey uncertainty of future events or outcomes, to identify these forward-looking statements. Such forward-looking statements are based on management’s current expectations, but actual results may differ materially due to various factors, including but not limited to those discussed in the “Risk Factors” section contained in Item 1A in Ballantyne Strong, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2021 and the Company’s subsequent filings with the Securities and Exchange Commission, 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 | |
| Francois Barrette | |
| General Manager | |
| 450-755-3795 | |
| info@strongmdi.com | |
| Ballantyne Strong Investor Relations Contacts | |
| Mark Roberson | John Nesbett / Jennifer Belodeau |
| Ballantyne Strong, Inc. - Chief Executive Officer | IMS Investor Relations |
| 704-994-8279 | 203-972-9200 |
| IR@btn-inc.com | jnesbett@institutionalms.com |
FAQ
What is the significance of the BTN and Marcus Theatres partnership?
How will the new supply agreement affect Ballantyne Strong's revenue?
When was the supply agreement between BTN and Marcus Theatres announced?
What company manufactures the screens for Marcus Theatres?
How many screens does Marcus Theatres operate?
