YMAGIS ANNOUNCES THE SIGNATURE OF NEW DIGITIZATION CONTRACTS IN GREECE AND TURKEY BY ITS AFFILIATE DCINEX
YMAGIS (ISIN: FR0011471291, mnémo: MAGIS), the specialist in digital technologies for the cinema industry, announces the signature by dcinex, its recently acquired affiliate, of new digitization contracts under the VPF(1) financing model in Greece and Turkey.
In Greece, dcinex confirmed having signed an agreement with the three cinema chains Village Cinemas, Odeon, and Ster Cinemas to digitize 150 screens on 20 sites under the VPF Third-Party financing model(2) . With this deployment, dcinex (YMAGIS Group) enables the conversion to digital cinema in Greece which was slightly delayed compared to other countries in Europe. On top of these agreements, the sale and installation of digital projection equipment as well as a 4-year service contract for this equipment will be executed by dcinex.
To benefit from the dynamic generated by these agreements and to progressively develop the activities in this market, the Group considers the establishment of a local structure in Greece.
Till Cussmann, Vice-President of dcinex’s Exhibitor Services business unit pointed out: « These major contracts signed in Greece are of strategic importance to the Ymagis Group with Greece being among the last markets to convert to digital. The local structure we consider to establish will allow us to fully benefit from the generated dynamics. »
Furthermore, dcinex also confirms having concluded an agreement in Turkey with three major cinema chains: Avsar Cinema, Cinemarine and Pink. These contracts will allow dcinex to achieve the digitization of 236 screens in Turkey under the VPF model.
Jean Mizrahi, President and co-founder of YMAGIS commented: « dcinex’s decision in 2013 to establish an affiliate in Turkey was instrumental to become one of the key partners of the Turkish cinema industry throughout its shift towards digital. »
He also added: « These VPF contracts illustrate the first benefits of our collaboration with dcinex. Our combined teams work diligently to further strengthen our leading position in Europe across all activities. »
Thanks to these contracts, the YMAGIS Group confirms its position as European leader on the financing market for projection equipment with a total of 6,170 screens under VPF contract, deployed or to be deployed, in 16 countries in Europe.