IMAX, Cinearte sign for IMAX cinema in Sao Paolo multiplex

IMAX Corp and Brazilian exhibitor Circuito Cinearte have signed an agreement 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's second in Brazil. In all there will be 29 IMAX theatres in Latin America by 2008. The new cinema will be capable of showing Hollywood blockbusters as well as IMAX original productions.
"Brazil is a vast and relatively untapped market that holds great potential for expansion of the IMAX theatre network," said IMAX co-CEOs and co-chairmen Richard Gelfond and Brad Wechsler in a statement. "We are delighted to 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's format shows us that moviegoers are drawn to the uniquely immersive experience that only IMAX theatres can deliver."

Denis Seguin in Toronto11 September 2006Screendaily.com