Ballantyne Expands Digital Cinema Distribution into Hong Kong.Strong Westrex Subsidiary Granted Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. Distribution Rights for NEC (NEC Corporation, Tokyo, www.nec.com, www.necus.com) An electronics conglomerate known in the U.S. for its monitors. In Japan, it had the lion's share of the PC market until the late 1990s (see PC 98). NEC was founded in Tokyo in 1899 as Nippon Electric Company, Ltd. Digital Cinema Projectors OMAHA Omaha, city, United States Omaha (ō`məhä, –hô), city (1990 pop. 335,795), seat of Douglas co., E Nebr., on the west bank of the Missouri River; inc. 1857. , Neb. & HONG KONG -- Ballantyne of Omaha, Inc. (Amex: BTN BTN In currencies, this is the abbreviation for the Bhutan Ngultrum. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ), a motion picture projection, specialty lighting and digital cinema equipment and services provider, announced today that its Asian distribution subsidiary, Strong Westrex, has secured Hong Kong distribution rights from NEC Viewtechnology Ltd. for its line of Digital Cinema Projectors. Strong Westrex has served the Hong Kong market's traditional cinema needs for over fifty years. Strong Westrex has been granted a non-exclusive license to distribute NEC's digital cinema projectors, which use Texas Instruments See TI. (company) Texas Instruments - (TI) A US electronics company. A TI engineer, Jack Kilby invented the integrated circuit in 1958. Three TI employees left the company in 1982 to start Compaq. DLP (Digital Light Processing) A data projection technology from TI that produces clear, readable images on screens in lit rooms. DLP is used in all types of projection devices, from data projectors that weigh only a few pounds to large rear-projection TVs to electronic (Digital Light Processing) Cinema[TM] technology, in Hong Kong. The agreement expands upon Ballantyne's existing position as master reseller An organization that sells hardware and software to the general public. Resellers purchase products from software publishers and hardware manufacturers. of NEC projectors in the Americas. The Hong Kong license is renewable, with an initial two-year term, and it specifies minimum sales goals. Strong Westrex will also provide service and support for all digital cinema products sold in the Hong Kong territory. The Hong Kong cinema market currently consists of approximately fifty theaters with a total of approximately 200 cinema screens. Strong Westrex maintains over 60% of the 35mm traditional projection systems currently in operation in Hong Kong. To date, only one theater screen in the territory has been equipped for digital cinema projection. Ballantyne president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , John P. Wilmers, commented, "Hong Kong is an important, influential cinema market where our Strong Westrex subsidiary has built a strong and loyal base of customers in traditional cinema over more than fifty years, including the past twelve years under Ballantyne's ownership. Expanding our product and service offerings to include NEC digital cinema projectors represents an exciting growth avenue and the natural evolution of our business in Hong Kong. We look forward to working closely with NEC to leverage this important digital cinema opportunity." About Ballantyne: Ballantyne is a provider of motion picture projection, digital cinema equipment and services, specialty lighting and specialty projection equipment. The Company supplies major theater chains, top arenas, television and motion picture production studios, theme parks and architectural sites around the world. For more information visit www.ballantyne-omaha.com Except for the historical information in this press release, it includes forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties, including but not limited to, quarterly fluctuations in results; customer demand for the Company's products; the development of new technology for alternate means of motion picture presentation; domestic and international economic conditions; 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's expectations. |
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