Panavision Sells Its Interest in EFILM to Deluxe Labs
10 August 2004 - 2:15AM
PR Newswire (US)
Panavision Sells Its Interest in EFILM to Deluxe Labs WOODLAND
HILLS, Calif., Aug. 9 /PRNewswire/ -- Panavision, the leading
manufacturer and supplier of cameras systems to the motion picture
and television industries, has sold its 80% ownership interest in
EFILM, LLC to Deluxe Laboratories, Inc., it was announced today.
Deluxe, which previously owned the remaining 20% share of EFILM,
will now be its sole owner. "It's been rewarding for us to have
participated in EFILM's development into the leading digital
laboratory in the industry," said Bob Beitcher, Panavision's
President and CEO. "Now that EFILM has 'come of age' and the
digital intermediate has evolved into an essential creative tool of
filmmakers, we are happy to pass the management role to Deluxe, for
whom EFILM is a natural extension of its traditional film
laboratory services. We will focus our energy on what is our core
strength -- providing the best imaging systems to the motion
picture and television industries, as well as applying our
expertise and technology in new markets -- and are in the process
of exploring acquisitions and investments consistent with this
mission. However, we will continue to work with EFILM to offer our
customers the extreme customer service and integrated solutions
they have come to expect." EFILM began providing digital laboratory
services to the motion picture industry in 1993. Panavision
purchased EFILM in 2001, and in 2002 Deluxe purchased a 20%
interest in the Company. "I am grateful for the support that both
Panavision and Deluxe have given us in our phase of extraordinary
growth," said Joe Matza, President of EFILM. "I look forward to
working even more closely with Deluxe as EFILM enters its next
phase." Utilizing proprietary digital color timing systems and
image processing tools, high resolution and scanning and recording
technologies with a high speed network, EFILM's services include
digital intermediate, high-resolution scanning and recording for
the visual effects industry, digital opticals for features,
trailers and commercials and tape-to-film services including 24p
HD, DV, NTSC and PAL. About Panavision: Founded in 1954, Panavision
Inc. is a leading designer and manufacturer of high-precision
camera systems, including both film and digital cameras, and lenses
and accessories for the motion picture and television industries.
Panavision systems are rented through its domestic and
internationally owned and operated facilities and agent network.
Panavision also supplies lighting, grip and crane equipment for use
by motion picture and television productions, as well as advanced
imaging solutions to broadcast and government customers.
DATASOURCE: Panavision CONTACT: Suzanne Lezotte, Panavision,
+1-818-316-2233, or cell, +1-818-427-0116, or
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