Panavision to Create State-of-the-Art Facility

July 20, 2009

WOODLAND HILLS, Calif., July 20 /PRNewswire/ — Panavision, the worldwide market leader in the design, manufacture and rental of camera systems, plans to create a state-of-the-art facility in Burbank, California, combining its Woodland Hills and Hollywood locations into the largest camera rental facility serving the entertainment industry. Panavision is currently looking for property to accommodate this facility, which would house camera rental and crane rental operations, manufacturing and research and development, as well as corporate headquarters. Currently, the Woodland Hills offices inhabit 150,000 square feet and Hollywood’s facility operates in 23,000 square feet.

“The upcoming expiration of our current leases provides us with the opportunity to consolidate our Los Angeles-based operations into a new facility in close proximity to many of our studio, television and commercial customers,” said Margit Elo, President, US Operations, Panavision Inc. “This facility will be a reflection of Panavision’s reputation for excellence, innovation and quality. We expect to identify a site in 2009 and commence the relocation process.”

Panavision provides camera equipment to many of the leading feature and television productions. Large scale movies such as “Pirates of the Caribbean,” “Transformers: Revenge of the Fallen,” “Terminator Salvation,” “Hannah Montana: The Movie,” “Batman: The Dark Knight,” and the upcoming “G.I. Joe” have obtained their camera packages from Panavision. Hit television shows such as “24,” “Desperate Housewives,” “Two and a Half Men,” “Brothers and Sisters,” “Medium,” “Numbers” and “The Mentalist” have also been serviced out of Panavision’s Los Angeles-based offices.

“In today’s economy, it just makes sense to combine our facilities,” said Bill Bevins, President and CEO, Panavision Inc. “Our customers expect a certain level of service, and we will continue to provide that. We are excited about the opportunities this move will create for Panavision and our customers.”

About the company

Founded in 1954, Panavision Inc. is a leading designer and manufacturer of high-precision camera systems, comprising of film and digital cameras, lenses and accessories for the motion picture and television industries. Panavision systems are rented through its domestic and international owned and operated facilities and distributor network. Panavision also supplies lighting, grip and crane equipment for use by motion picture and television productions.

SOURCE Panavision

Source: newswire

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