ElectroHome Division Purchased With eCinema Intentions

The Electrohome Projection Systems division of Electrohome Limited has been purchased by Christie Inc. to create a new force in the projection marketplace. Electrohome Limited will maintain controlling interests in Robotel Electronique, the Fakespace Group of Companies, Pyramid Systems and an equity position in Immersion Studios. ""Projection Systems has been one of the largest and most successful divisions of Electrohome's business for more than a decade,"" said John Pollock, Chairman and Chief Executive Officer of Electrohome Limited. ""However, the projection marketplace is undergoing an ever-accelerating rate of change and Christie will provide the resources and expertise to bring Electrohome Projection Systems to the forefront of dynamic new industries such as electronic digital cinema.""Christie, a manufacturer of film projection equipment for movie theatres, is a subsidiary of Ushio America, a wholly owned Christie is headquartered in Cypress, California.""There is a great synergy between Electrohome Projection Systems and Christie Inc.,"" said Gerry Remers, President, Electrohome Projection Systems Group. ""With the increasing acceptance of electronic digital cinema, Christie was looking for an organization that could deliver this innovative technology to their existing customer base and sales channel, in order to maintain and grow their market-leading status. We believe the acquisition will not only create an excellent platform for R&D, but it will enhance Electrohome's presence world wide.""Through the agreement, Christie agrees to retain current Electrohome Projection Systems staff and maintain Electrohome Projection Systems' manufacturing facilities, engineering and administrative offices in Kitchener, Ontario as well as sales and service locations around the world. Electrohome Projection Systems will operate as a Division of Christie Inc. ""The acquisition of Electrohome Projection Systems allows us to build on our existing strength and leadership in cinema projection and positions us in the forefront of electronic digital cinema,"" said Jack Kline, Executive Vice President and Chief Operating Officer, Christie Inc.