CINEASIA, Hong Kong - GDC Technology ("GDC"), a world leading digital cinema solution provider, is pleased to announce that it has closed a deal with UA Cinemas ("UA") to supply DCI-compliant digital cinema equipment under the VPF scheme. GDC is the front-runner in Asia holding the most number VPF agreements with major Hollywood Studios which include 20th Century Fox, Paramount Pictures International, Sony Pictures Entertainment, Universal Pictures International and Walt Disney Studios Motion Pictures International. Under these VPF agreements, the participating studios will make financial contributions for a limited time towards the hardware cost of DCI-compliant digital equipment deployed by GDC. Few companies can offer both VPF arrangement and one-stop digital cinema solution together; the unique strength of GDC in both has made it the preferred choice for Asian exhibitors who are thinking of converting to digital.
With 13 systems already installed at 7 cinema sites, UA Cinemas has been a loyal customer of GDC. The new contract will see another 20 systems to be installed by GDC by the end of 2010. UA Cinemas was introduced by the Lark Group in 1985 with the opening of UA Shatin, the first ever US-style multiplex cinema brought in to Hong Kong. With approximately 38 screens at eight locations, UA is today one of the major cinema chains in the territory.
"We are pleased to engage GDC again to outfit our new digital cinemas as we are thoroughly impressed by GDC's quality products and excellent technical service," said Bob Vallone, Director and General Manager of Lark Multimedia Ltd. "GDC's VPF scheme is really the icing on the cake; it will go a long way in alleviating the capital outlay needed by the exhibitors when going digital."
"GDC strives to provide its customers a complete digital cinema solution, not just technically, but also commercially," said Dr. Man-Nang CHONG, founder and CEO of GDC Technology. "GDC's VPF scheme offers our customers a viable commercial model to finance their digital conversion and puts together a sustainable roll-out strategy. We are happy that UA Cinemas has recognized this and we expect more exhibitors to join in soon."