Technicolor Develops The Even Bigger Picture

Technicolor, the world's leading processor of motion picture film, has acquired Consolidated Film Industries (CFI) for $48 million in cash. CFI is a Hollywood, California-based film processor specializing in large film formats and specialized film services for a wide range of customers. The acquisition is part of Technicolor's general business plan to expand the breadth of its global film services. The combination of Technicolor's core business in 35mm format film processing with CFI's position as the leader in wide format film processing creates significant new market opportunities. Customers will immediately benefit from the combined companies' complementary assets and lines of business. Also, the combined entities will immediately benefit from shared technology, engineering, and laboratory resources, providing significant synergy savings and revenue growth opportunities. Lanny Raimondo, Chief Executive of Technicolor, said, ""Combining Technicolor and CFI, with its big screen expertise, is another great step forward. We will provide better service to more customers in a rapidly growing market.""Raimondo continued, ""Technicolor is multi-format and multi-national. We can provide every service from 16mm to 70mm and we cover the key markets of the US and Europe. We are at the forefront of developing digital film."" Bob Beitcher, President of CFI, said, ""We are pleased to join the Technicolor family and look forward to broadening the services provided to our customers around the world."" CFI works with IMAXÆ and the leading Hollywood studios including Sony, Universal, MGM, Paramount, Disney, and independents like USA Films and Lakeshore. Technicolor, a wholly owned subsidiary of Carlton Communications Plc, serves the leading Hollywood studios, including Disney, Warner Brothers, DreamWorks SKG, 20th Century Fox, Destination and USA Films. Technicolor is the world's largest producer of videos and DVDs with plants on the East and West coasts of the US, Canada, Mexico and throughout Europe.