Strong Technical Services Partners With GDC Technology Limited to Deploy Digital Cinema Servers to Caribbean Cinemas
27 Avril 2022 - 2:30PM
Strong Technical Services “(STS”), a wholly-owned subsidiary of
Ballantyne Strong, Inc. (NYSE American: BTN) (“Ballantyne” or
the “Company”), today announced its partnership with GDC Technology
Limited (“GDC”) for the deployment of digital cinema servers to
Caribbean Cinemas (“Caribbean”), owner and operator of 583 screens
in the Caribbean Islands, Central and South America. The four-year
agreement involves the full replacement of legacy media servers
with the new “Flagship” GDC SR-1000 Standalone Integrated Media
Block™ with diskless CineCache™ at all of Caribbean Cinemas’
existing sites and new construction projects. STS will assist the
deployment and also provide remote technical services for the
duration of the agreement.
“Caribbean Cinemas has always strived to offer
moviegoers outstanding customer services, value and enjoyment based
on their continuous upgrading as new technologies become
available”, said Ray Boegner, President of Strong Entertainment at
Ballantyne Strong. “This agreement is an example of the Caribbean’s
core philosophy of leading and staying at the forefront of
technology as it changes and evolves. My hat goes off to Robert and
Caribbean for their leadership.”
“At Caribbean Cinemas, we base our partnerships
on trust and reliable performance of a company’s products. We
firmly believe GDC is one of the most trusted names in the cinema
industry with very reliable products,” said Robert Carrady,
President of Caribbean Cinemas. “Extending our relationship was
based upon our experience with GDC and Strong. Both have
exceptional post-sales support, a history of innovations and a
passion to continually improve the moviegoing experience for our
guests.”
“We are delighted to continue our long-term
partnership with Caribbean Cinemas,” said Annie Wang, President of
GDC Technology (USA) LLC. “We have had the pleasure of their
partnership over the past 12 years now and that relationship will
continue to grow as they continue to provide their customers with
the best, “state of the art” presentation for years to come in the
cinema markets they serve now and in the future.”
About Ballantyne Strong, Inc. and
Strong Technical Services, 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 GDC Technology
Limited
GDC Technology Limited (‘GDC’) is a leading
digital cinema solutions provider with its manufacturing facility
certified with ISO 9001:2015 by SGS. GDC develops, manufactures and
sells cinema projector, media server for both projector and LED
cinema display, content storage system, cinema enterprise software
including theatre management system and advanced cinema automation
system for the global cinema industry. GDC is a licensee of the
DTS:XTM object-based immersive sound technology from DTS, Inc. for
the development of its media servers. In addition, GDC also
provides a suite of digital cinema products and services, including
LED cinema, 3D product, audio equipment, projector lamp, silver
screen, post-production service, Electronic Delivery System
(EDS).
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.
For Investor Relations Inquiries: |
|
|
|
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 |
ballantyne@imsinvestorrelations.com |
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