China's Hangzhou gets Imax
Imax expects to have 50 theaters operating in China by 2012TORONTO -- Imax Corp. has sold a digital theater system to a state-owned cultural institution in east China's Zhejiang Province.
Toronto-based Imax said Zhejiang Xinyuan Cultural Industry Group Co. acquired the super-sized theater to anchor a 16-screen multiplex in the Zhejiang capital city of Hangzhou, around two hours south of Shanghai by car.
The Zhejiang location expects to launch later this summer in time for the release of the digitally-remastered Chinese-language commercial movie "Aftershock," a co-production of Imax and China's Huayi Bros. studio.
As in other global markets, Imax has been opening flagship theaters in Shanghai and Beijing multiplexes, before seeding digital screens in untapped satellite markets like Zhejiang.
Imax expects to have 50 theaters operating in China by 2012.