IMAX Corporation (NYSE: IMAX; TSX: IMX) and New Tour Safaris Co., Ltd., operator of Urgoo Cinemas, the largest theatrical exhibition and entertainment company in Mongolia, today announced an agreement to install two IMAX® theatres in new construction projects in the city of Ulan Bator, the nation’s capital and largest city. With today’s agreement, IMAX will now have a presence in 58 countries worldwide.
“We are 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,” said Andrew Cripps, President of IMAX EMEA. “With the rapid expansion of our international theatre network and an increased number of local-language films, we are now more globally diversified than ever and today’s agreement underscores our continued focus on globalization.”
“We are committed to delivering premium entertainment experiences and IMAX will serve as an extension of this strategy, which we are confident will both strengthen our business and set the stage for a new era in moviegoing in Mongolia,” said Mr. Anandbazar Tsogt-Ochir, Chairman & CEO of SOD Mongol Group the parent company of New Tour Safaris. “With the world’s biggest blockbuster titles in the world’s most immersive format, we are proud to be the first to introduce The IMAX Experience® to the country and look forward to expanding our partnership in the future.”