P R E S S R E L E A S E
CHRISTIE DIGITAL SYSTEMS PREMIERESNew name, new era for Projection Systems
Kitchener, Ontario, CANADA – (November 1, 1999) – Electrohome Projection Systems announced today that effective immediately it will be known as Christie Digital Systems, Inc.
Christie Inc. acquired Electrohome Projection Systems on November 1st, 1999, after approval of the deal by Electrohome Limited shareholders. Christie, a world leader in the manufacture and design of film projection equipment for movie theatres, purchased Electrohome Projection Systems as an investment in display technology leadership.
"The projection marketplace is undergoing an ever-accelerating rate of change," says Jack Klein, Executive Vice President and Chief Operating Officer, Christie Inc. "The acquisition and renaming of Electrohome Projection Systems allows us to build on our existing brand strength and technological leadership in the high performance projection market. It also positions us in the forefront of electronic digital cinema."
Christie Digital Systems, Inc. will retain its manufacturing facilities, engineering and administrative offices in Kitchener, Ontario, as well as its sales and service locations around the world. The new company will operate as a separate business unit.
"The acquisition allows each company to leverage its knowledge base to become a dominant player in the marketplace," adds Gerry Remers, President and Chief Operating Officer, Christie Digital Systems Inc. "As Christie Digital Systems, we have new opportunities for research and development as well as customer intimacy and sales channel expertise through Christie. We are committed to building a strong, viable business for the new millennium with our parent company."
About Christie Inc. Established in 1929, Christie has evolved to become a recognized leader in the design, manufacture and innovation of cinema projection equipment. A wholly owned subsidiary of Ushio America, Inc. since 1992, Christie film projectors are installed in more than 35 countries worldwide. In August 1999, Christie acquired Electrohome Projection Systems to strengthen their presence in the electronic digital cinema marketplace. Christie Inc. is headquartered in Cypress, California. For more information, visit the company's Web site at http://www.christieinc.com
About Christie Digital Systems, Inc. Established as Electrohome Projection Systems in 1979 and headquartered in Kitchener, Ontario, Canada, Christie Digital Systems, Inc. became a wholly owned subsidiary of Christie Inc. on November 1st, 1999. Christie Digital Systems supplies high performance projection solutions to customers around the world. Specializing in large-screen video/data/graphic solutions, Christie Digital Systems has over 20,000 projectors installed in more than 50 countries. For more information, visit the company's Web site at http://www.christiedigital.com
For more information, please contact:
Cohn & Wolfe
(416) 924-5700 ext. 4053
Christie Digital Systems, Inc.