IMAX Corp and Brazilian exhibitor Circuito Cinearte have signed anagreement that will see an IMAX cinema as part of a 10-screen mulitplex in Sao Paulo, Brazil.
The new facility is scheduled to open in 2007. The deal is IMAX'ssecond in Brazil. In all there will be 29 IMAX theatres in Latin America by2008. The new cinema will be capable of showing Hollywood blockbusters as wellas IMAX original productions.
"Brazil is a vast and relatively untapped market that holds greatpotential for expansion of the IMAX theatre network," said IMAX co-CEOs andco-chairmen Richard Gelfond and Brad Wechsler in a statement. "We are delightedto join one of the country's fastest growing exhibitors."
Added Adhemar de Oliveira, managing director of Circuito Cinearte,"The impressive box office performance of Hollywood movies in IMAX'sformat shows us that moviegoers are drawn to the uniquely immersive experiencethat only IMAX theatres can deliver."