STRONG/MDI To Open a New Screen Finishing Facility In Belgium with Lemmens S.A. to Service Europe and the Middle East
26 Avril 2022 - 2:30PM
STRONG/MDI Screen Systems, Inc. (“STRONG/MDI”) a wholly-owned
subsidiary of Ballantyne Strong, Inc. (“Ballantyne Strong” or the
“Company”) (NYSE American: BTN) and a leader in manufacturing
state-of-the-art cinema screens, announced today that it has
entered into a cooperative agreement with Lemmens S.A., located in
Sprimont, Belgium, to facilitate expedited screen shipments for
cinema industry customers in Europe and the Middle East.
The new agreement will utilize Lemmens’ modern
high-tech facility and STRONG/MDI’s proprietary screen
manufacturing processes to facilitate quick-ship screen deliveries
to cinema operators in Europe and the Middle East. Customers with
requirements for urgent screen deliveries will be able to receive
shipments in less than ten days from the new quick-ship
program.
"We are delighted with this new collaboration, which we believe
will greatly reduce waiting and delivery times for urgent screen
orders for clients in Europe and the Middle East," said François
Barrette, Senior Vice President & General Manager for
STRONG/MDI. "In helping to eliminate unnecessary delays, we see
this agreement as highly beneficial to our valued customers in
these expanding exhibition sectors.”
“We have searched long and hard over the past couple of years
for the right solution to provide our exhibitors in Europe and the
Middle East with STRONG/MDI screens through an expedited quick-ship
program. We now have the answer with our new partnership with
Lemmens in Belgium,” said Ray Boegner, President of STRONG/MDI.
“We’re happy to be working with STRONG/MDI in this arrangement
that will allow us to develop a new division within our company and
apply our years of experience in processing and delivering quality
products throughout the regions we service and beyond!” stated Mr.
Francy Lemmens, Managing Director of Lemmens S.A. "Our entire team
is looking forward to working with STRONG/MDI to provide this
valuable service to our customers in the EMEA market.”
The new quick-ship program is expected to be on-line and
operational by June 1, 2022.
Those looking for more information on product
developed by STRONG/MDI Screen Systems can contact the sales team
by phone at +01 450 755-3795 or via email
info@strongmdi.com. For EMEA customers, please contact Mr. Bernard
Collard at +32 477 49 49 39 or via email
bernard.collard@strongmdi.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be
any sale of the securities of Ballantyne Strong or any of its
subsidiaries, in any jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction.
About Ballantyne Strong, Inc. and STRONG/MDI Screen
Systems, Inc.Ballantyne Strong, Inc. is a diversified
holding company with operations and investments across a broad
range of industries. The Company’s Strong Entertainment business
unit includes STRONG/MDI Screen Systems (www.strongmdi.com), the
leading premium screen and projection coatings supplier in the
world and Strong Technical Services (www.strong-tech.com), which
provides comprehensive managed service offerings with 24/7/365
support nationwide to ensure solution uptime and availability.
Ballantyne Strong also holds stakes in GreenFirst Forest Products
Inc., Firefly, Inc, and FG Financial Group, Inc.
About Lemmens S.A.Founded in
1919 by a single man, the Lemmens company today has more than 60
employees in Belgium, France and Luxembourg and remains one of the
last Belgian companies active in the field of wire rope processing.
The company, which was only a small local business in its
beginnings, gradually adapted to market demands and trends, thus
extending its activity to all lifting and handling products, while
maintaining its unique expertise in the field of cable and its
transformation. Utilizing their experienced staff and advanced high
frequency welding technologies, Lemmens has grown into one of the
industry leaders in fabricating custom tarpaulins and tents in
Western Europe. More information about the Company can be found
at www.lemmens-cables.be/.
Forward-Looking Statements
In addition to the historical information
included herein, this press release includes forward-looking
statements, such as management’s expectations regarding its
portfolio companies, the Company’s intent to pursue an initial
public offering and separate listing of its Entertainment business,
as well as future sales, the impact, length and severity of the
COVID-19 pandemic, general economic recovery from the effects of
the COVID-19 pandemic, and the adequacy of the actions taken in
response to the pandemic, which involve a number of risks and
uncertainties, including but not limited to those discussed in the
“Risk Factors” section contained in Item 1A in the Company’s Annual
Report on Form 10-K for the year ended December 31, 2021 filed with
the SEC on March 24, 2022, and the following risks and
uncertainties: the negative impact that the COVID-19 pandemic has
already had, and may continue to have, on the Company’s business
and financial condition; the impact on the global economy and
supply chains of the ongoing military conflict in Ukraine and the
sanctions related thereto; the Company’s ability to maintain and
expand its revenue streams to compensate for the lower demand for
the Company’s digital cinema products and installation services;
potential interruptions of supplier relationships or higher prices
charged by suppliers; the Company’s ability to successfully compete
and introduce enhancements and new features that achieve market
acceptance and that keep pace with technological developments; the
Company’s ability to successfully execute its capital allocation
strategy or achieve the returns it expects from these investments;
the Company’s ability to maintain its brand and reputation and
retain or replace its significant customers; challenges associated
with the Company’s long sales cycles; the impact of a challenging
global economic environment or a downturn in the markets (such as
the current economic disruption and market volatility generated by
the ongoing COVID-19 pandemic and ongoing military conflict in
Ukraine and related sanctions); economic and political risks of
selling products in foreign countries (including tariffs); risks of
non-compliance with U.S. and foreign laws and regulations,
potential sales tax collections and claims for uncollected amounts;
cybersecurity risks and risks of damage and interruptions of
information technology systems; the Company’s ability to retain key
members of management and successfully integrate new executives;
the Company’s ability to complete acquisitions, strategic
investments, entry into new lines of business, divestitures,
mergers or other transactions on acceptable terms, or at all; the
impact of the COVID-19 pandemic on the Company’s portfolio
companies; the Company’s ability to utilize or assert its
intellectual property rights, the impact of natural disasters and
other catastrophic events (such as the ongoing COVID-19 pandemic
and ongoing military conflict in Ukraine and related sanctions);
the adequacy of insurance; the impact of having a controlling
stockholder and vulnerability to fluctuation in the Company’s stock
price. Given the risks and uncertainties, readers should not place
undue reliance on any forward-looking statement and should
recognize that the statements are predictions of future results
which may not occur as anticipated. Many of the risks listed above
have been, and may further be, exacerbated by the ongoing COVID-19
pandemic, its impact on the cinema and entertainment industry, and
the worsening economic environment. Actual results could differ
materially from those anticipated in the forward-looking statements
and from historical results, due to the risks and uncertainties
described herein, as well as others not now anticipated. New risk
factors emerge from time to time and it is not possible for
management to predict all such risk factors, nor can it assess the
impact of all such factors on the Company’s business or the extent
to which any factor, or combination of factors, may cause actual
results to differ materially from those contained in any
forward-looking statements. Except where required by law, the
Company assumes no obligation to update, withdraw or revise any
forward-looking statements to reflect actual results or changes in
factors or assumptions affecting such forward-looking
statements.
STRONG/MDI Screen Systems, Inc.
ContactFrancois BarretteSenior Vice President and General
Manager450-755-3795info@strongmdi.com
Ballantyne Strong Investor Relations
Contacts
Mark
Roberson |
John Nesbett /
Jennifer Belodeau |
Ballantyne Strong, Inc. - Chief Executive Officer |
IMS Investor Relations |
704-994-8279 |
203-972-9200 |
IR@btn-inc.com |
jnesbett@institutionalms.com |
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