STRONG/MDI Screen Systems Signs Exclusive Screen Supply Agreement with AMC Theatres®

Rhea-AI Summary

Ballantyne Strong's subsidiary, STRONG/MDI Screen Systems, has secured an exclusive supply agreement with AMC Theatres, the largest cinema chain globally. This partnership aims to enhance the moviegoing experience across AMC's more than 10,000 screens by providing premium projection screens. Executives from both companies expressed confidence in the collaboration, emphasizing the importance of screen quality to cinema audiences. This long-term relationship is positioned to solidify STRONG/MDI’s role as a leader in cinema screen technology.

Positive

• Exclusive supply agreement with AMC Theatres enhances market positioning.
• Strengthened relationship with a key industry player, potentially driving revenue growth.
• Focus on quality and support reinforces STRONG/MDI's reputation in the cinema sector.

Negative

• None.

CHARLOTTE, N.C., Jan. 25, 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 cinema screen supply agreement with the largest theatrical exhibitor in the United States and the world, AMC Theatres (NYSE: AMC) (“AMC”) for its U.S.-based theatres.

Mark Roberson, Chief Executive Officer of Ballantyne Strong commented, “AMC is a true industry leader focused on the consumer and on providing a premium cinema experience, and we’re pleased to have been selected to meet all of their projection screen needs. We are proud to build on our legacy as the industry leader helping AMC bring consumers the best theatrical viewing experience.”     

“We are excited to continue our long relationship with AMC Theatres, which dates back decades,” stated Ray Boegner, President of Strong Entertainment. “AMC is the largest movie exhibition company with more than 10,000 screens, and we believe this exclusive agreement reflects the focus that STRONG/MDI places on quality and support for our partners. AMC has historically been one of the key innovators in the cinema industry, providing state of the art venues and new and unique experiences for the movie going audience. We are extremely proud and gratified that AMC has chosen to partner with STRONG/MDI on an exclusive basis, to provide our best-in-class screens to enhance the in-theatre viewing experience for their patrons for many years to come.”

“One of the most important factors in the moviegoing experience is the actual screen itself,” said Mark Latimer, Vice President, Sight and Sound, AMC. “With STRONG/MDI screens, we are providing our audience with the very best-in-class screen presentation technology.”

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.

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, 2020 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 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); 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); 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
Ballantyne Strong, Inc. - Chief Executive Officer
Chief Executive Officer
(704) 994-8279
IR@btn-inc.com

John Nesbett/Jennifer Belodeau
IMS Investor Relations
(203) 972-9200
jnesbett@institutionalms.com

FAQ

What is the recent agreement announced by BTN?

BTN's subsidiary, STRONG/MDI, signed an exclusive supply agreement with AMC Theatres to provide cinema screens.

How many screens does AMC Theatres operate?

AMC Theatres operates over 10,000 screens, making it the largest cinema chain in the world.

What does the supply agreement mean for STRONG/MDI?

The agreement positions STRONG/MDI as a key supplier for high-quality cinema screens, enhancing its market presence.

When was the supply agreement with AMC Theatres announced?

The supply agreement was announced on January 25, 2022.

How will the agreement affect the cinema experience at AMC?

The agreement aims to improve the viewing experience by providing state-of-the-art cinema screens.