ARC International to Build Ice-Based Entertainment Complex in Danbury, Connecticut.DANBURY, Conn./TORONTO--(BUSINESS WIRE)--Sept. 30, 1997-- - Agreement Extends ARC's Expansion into Eastern United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. - ARC International This article is about the publicly traded processor company. For the privately held French housewares company of the same name, see ARC International (household). Corporation (AMEX AMEX See: American Stock Exchange : ATV (1) (Advanced TV) An early name for the digital TV standard proposed by the Advisory Committee on Advanced Television Service (ACATS). See ACATS. See also ATV Forum. (2) (Analog TV) Refers to the NTSC, PAL and SECAM analog TV standads. ) will announce at a press conference today that its wholly-owned subsidiary, ARC IceSports & Entertainment, has secured a 1.6 acre site in Danbury, Connecticut “Danbury” redirects here. For other uses, see Danbury (disambiguation). Danbury is a city in Fairfield County, Connecticut, United States. It has an estimated population as of July 1, 2005 of 78,736. for its third hockey and figure skating figure skating Sport in which ice skaters, singly or in pairs, perform various jumps, spins, and footwork. The figure skate blade has a special serrated toe pick, or toe rake, at the front. facility in the United States. The facility will be constructed in downtown Danbury adjacent to the City's dining and entertainment district. Pending final City Council approval and appropriate regulatory reviews, ARC expects to open the complex in Fall 1998. The anticipated cost of developing the facility is approximately $6,500,000, which ARC will fund through its cash-on-hand. The proposed ARC IceSports facility will feature two NHL NHL Non-Hodgkin's lymphoma, see there regulation-sized ice sheets, each with the capacity to seat 500 spectators, a sports-themed diner, 1,700 square feet of sports merchandise retail space, an arcade area, party and meeting rooms, twelve dressing rooms and a skate changing area. The arena site is located directly across from the City train station and is accessible via public transportation, pedestrian pathways and Interstate 84. A 550-space garage adjoining the facility provides patrons with convenient parking. For the past 25 years, ARC has owned and operated three skating complexes in the Toronto, Ontario metropolitan area. Earlier this year, ARC launched a U.S. rink development program by securing its first two sites in the fast growing suburbs of Rockville, Maryland Rockville is the county seat of Montgomery County, Maryland, United States. According to the 2006 census update, the city had a total population of 59,114, making it the second largest city in Maryland. and Chesapeake, Virginia Chesapeake is an independent city located in the South Hampton Roads region of eastern Virginia in the United States. One of the Seven Cities of Hampton Roads, Chesapeake was formed in 1963 by a political consolidation of the City of South Norfolk with the former Norfolk County, . The Rockville location will open next month. Arnold S. Tenney, Chairman and Chief Executive Officer of ARC International Corporation, commented, "ARC is building ice-based, family entertainment facilities in the United States because they can provide attractive returns on investment and cash flow equal to or better than other location-based entertainment properties. The increasing popularity of ice sports in the U.S. is boosting demand for quality ice surfaces, but national supply has not kept pace with demand. We are confident that underserved communities like Danbury, with established skating traditions and attractive demographics, will embrace ARC's state-of-the-art skating complexes." Mark Gardhouse, President of ARC IceSports & Entertainment, added, "Danbury is a dynamic community, and we're excited to build a family entertainment complex in the heart of downtown. We look forward to broadening our public/private relationship with the Mayor, the City Council and local development agencies to build an entertainment center which energizes the City's commercial area." ARC International Corp. acquires and develops businesses in the leisure, entertainment and communications industries into public companies in which it maintains substantial equity interests: Ballantyne of Omaha, Inc. is a leading manufacturer of motion picture projection and specialty entertainment lighting equipment in the United States and Cabletel Communications Corp. is Canada's leading supplier of broadband equipment for the cable television industry. Through ARC Sports, ARC develops ice skating ice skating, gliding along an ice surface on keellike runners known as ice skates. Skating as a Sport Skating, besides being an important form of winter recreation and the essential skill in the game of ice hockey (see hockey, ice) has developed complexes and is a leading supplier of ice rink equipment and services in North America. Except for the historical information in this press release, it includes forward-looking statements that involve risks and uncertainties, including, but not limited to, quarterly fluctuations in results, the management of growth, and other risks detailed from time to time in the Company's Securities and Exchange Commission filings. Actual results may differ materially from management expectations. CONTACT: ARC International Corp., Toronto Arnold S. Tenney, 416/630-0200 |
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