Charlotte, NC – September 1, 2020 — STRONG Technical Services, Inc., a wholly-owned subsidiary of Ballantyne Strong, Inc. (NYSE American: BTN) and a leader in projection equipment sales, engineering, and services, announces a multi-year nationwide managed service agreement with Marcus Theatres®. Effective today STRONG Technical Services (STS) will become the exclusive provider of managed services for all of Marcus Theatres’ cinema locations nationwide. These managed services will include 24x7x365 monitoring, technical support, and maintenance on all projection and audio equipment across more than 1,100 screens.
“We are proud to serve Marcus Theatres nationwide,” said Blake Titman, Vice President and General Manager, STRONG Technical Services. “STRONG Technical Services and Marcus Theatres have a long-standing partnership, which includes working together on projects like Parking Lot Cinemas and our Theatre Readiness Program. STRONG Technical Services’ 24x7x365 support and nationwide field service capabilities are unmatched when combined with our integrated technology and product solutions.”
“We appreciate Marcus Theatres choosing STRONG Technical Services to be its partner for managed services. Marcus Theatres is the fourth largest cinema operator in the United States, and we are uniquely positioned to service their needs on a nationwide basis,” added Ray Boegner, President of STRONG Entertainment. “Marcus Theatres and STRONG are well known names in the exhibition industry having both been in the industry for over eighty years, and the brands are synonymous with first class quality.”
“Entering a system-wide agreement with STRONG Technical Services to provide projection and sound service was an easy decision for us,” said Rolando Rodriguez, chairman, president & CEO of Marcus Theatres. “We’ve been partners for decades, so it only makes sense to have STRONG Technical Services provide network operations center support and service on all non-IMAX screens for Marcus Theatres and Movie Tavern. We look forward to the agreement starting September 1.”
Those wishing to obtain more information regarding the full range of products and services offered by STRONG Technical Services are invited to contact management directly, either by phone at (800) 722-4445 or by email at [email protected].
About STRONG Technical Services
STRONG Technical Services, Inc. (www.strong-tech.com), a Ballantyne Strong, Inc. company, is an equipment sales, engineering, and service provider located in Omaha, NE. The company, with its nationwide service and engineering team, designs, integrates, and installs technology solutions for a broad range of applications including audio, projection, and signage applications with comprehensive managed service offerings to ensure solution uptime and availability.
About Ballantyne Strong, Inc.
Ballantyne Strong, Inc. (www.ballantynestrong.com) and its subsidiaries engage in diverse business activities including the design, integration and installation of technology solutions for a broad range of applications; development and delivery of out-of-home messaging, advertising and communications; manufacturing of projection screens; and providing managed services including monitoring of networked equipment. The Company focuses on serving the entertainment, retail and advertising markets.
About The Marcus Corporation
Headquartered in Milwaukee, The Marcus Corporation is a leader in the lodging and entertainment industries, with significant company-owned real estate assets. The Marcus Corporation’s theatre division, Marcus Theatres®, is the fourth largest theatre circuit in the U.S. and currently owns or manages 1,110 screens at 91 locations in 17 states under the Marcus Theatres, Movie Tavern® and BistroPlex® brands. The company’s lodging division, Marcus® Hotels & Resorts, owns and/or manages 18 hotels, resorts and other properties in eight states. For more information, please visit the company’s website at www.marcuscorp.com.
This press release may include forward-looking statements, such as our expectations regarding future sales, the impact, length and severity 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 Ballantyne Strong, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2019, Part II, Item 1A of the Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2020 and the Company’s subsequent filings with the Securities and Exchange Commission, 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 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 access to capital, the Company’s ability to successfully execute its capital allocation strategy, 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 recession and market volatility generated by the ongoing COVID-19 pandemic), 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 companies in which the Company holds investments, 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), 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 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 Technical Services Contact
Strong Technical Services, Inc.
Vice President – General Manager
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Ballantyne Strong, Inc.
Chief Executive Officer
Investor Relations Contact
John Nesbett/Jennifer Belodeau
IMS Investor Relations