Welcome!

News Feed Item

EDC Provides Cinepolis Group With USD 11 M in Financing to Strengthen Business Ties With IMAX Corporation

OTTAWA, ONTARIO -- (Marketwired) -- 08/13/14 -- Export Development Canada (EDC) today announced USD 11 M in financing for Mexico's Cinepolis Group (Cinepolis), the fourth largest movie theatre operator in the world and the largest in Latin America.

The financing, which is being provided as part of a larger facility loan for Cinepolis, will serve to strengthen the business relationship between Cinepolis and Canada's IMAX Corporation, a world leader in entertainment technology.

IMAX currently has 14 specialized theatres located in Cinepolis multiplexes, 13 in Latin America and one in India. Plans are in place between the two companies for 11 new theatres to be built by 2015 in various locations around the world, and discussions have already begun regarding additional theatres in the future.

"We've been more aggressive recently in the Latin American market, with triple the amount of signings in 2013 from 2012," said IMAX CEO Richard L. Gelfond. "We're pleased to see our efforts coming to fruition in our relationship with Cinepolis and we expect the region to provide further growth for us as the appetite for the IMAX Experience increases among developers, exhibitors and consumers."

With 837 theatres in 57 countries, IMAX has come a long way since making its name as a small group of experimental filmmakers at Montreal's EXPO '67. EDC has played an important role in that growth by providing financing and bonding products that helped the company through periods of financial need, and supported its expansion into foreign markets.

"IMAX is an iconic Canadian company, and we are happy to play a part in bringing their unique experience to new audiences," said Todd Winterhalt, EDC's Vice-President of International Business Development. "By participating in this syndicated loan we are establishing a financial relationship with Cinepolis to the benefit of IMAX, but we will also be able to leverage this relationship with Cinepolis to recommend Canadian companies for future contracts."

In the last five years Cinepolis has averaged a sales growth of over 20 per cent per year. It has capitalized on a growing movie market in Latin America, which saw box office revenues increase almost 80 per cent from 2009-2013.

"One of our success factors has been our focus on innovation and IMAX is an integral part of how we're delivering on this front," said Alejandro Ramirez, CEO of Cinepolis Worldwide. "IMAX gives us a competitive advantage that drives stronger performance at our multiplexes and we look forward to bringing the world's most immersive cinematic experience to more theatres across our network."

Mexico is a strategic market for Canada, as outlined in the Government's Global Market Action Plan, and is also a market of corporate priority for EDC. As such, EDC is looking to grow the amount of financing that it offers to Mexican companies, whether that financing is for general corporate purposes or project finance purposes.

Canadian companies looking to grow their business in Mexico can contact EDC at 1-800-295-2528.

About EDC

EDC is Canada's export credit agency, providing financing and insurance solutions locally and around the world to help Canadian companies of any size respond to international business opportunities. As a profitable Crown corporation that operates on commercial principles, EDC works together with private- and public- sector financial institutions to create greater capacity for Canadian companies to engage in trade and investment.

For more information about how EDC can help your company, visit www.edc.ca.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
"Once customers get a year into their IoT deployments, they start to realize that they may have been shortsighted in the ways they built out their deployment and the key thing I see a lot of people looking at is - how can I take equipment data, pull it back in an IoT solution and show it in a dashboard," stated Dave McCarthy, Director of Products at Bsquare Corporation, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, discussed using predictive analytics to mon...
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Onalytica. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
In IT, we sometimes coin terms for things before we know exactly what they are and how they’ll be used. The resulting terms may capture a common set of aspirations and goals – as “cloud” did broadly for on-demand, self-service, and flexible computing. But such a term can also lump together diverse and even competing practices, technologies, and priorities to the point where important distinctions are glossed over and lost.
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"IoT is going to be a huge industry with a lot of value for end users, for industries, for consumers, for manufacturers. How can we use cloud to effectively manage IoT applications," stated Ian Khan, Innovation & Marketing Manager at Solgeniakhela, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
Join Impiger for their featured webinar: ‘Cloud Computing: A Roadmap to Modern Software Delivery’ on November 10, 2016, at 12:00 pm CST. Very few companies have not experienced some impact to their IT delivery due to the evolution of cloud computing. This webinar is not about deciding whether you should entertain moving some or all of your IT to the cloud, but rather, a detailed look under the hood to help IT professionals understand how cloud adoption has evolved and what trends will impact th...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.