Prime Focus expands India operations

Prime Focus Ltd on April 11, 2007 has announced the official launch of its fourth India facility at Chennai. With the South Indian film industry accounting for over 50% of India's film production, this facility will cater to the post production and visual effects needs of the Chennai market.

The Chennai facility is the Company's fourth in India and the Company has invested a total of Rs 12 crores in the 5000 Square Feet, 55 artist set-up. Equipped with state-of-the-art post-production and visual effects technologies including one high end Thomson Spirit 4K Scanner, DaVinci 2K Plus Colour Grader, two Autodesk Lustre Film Grading Systems, two Autodesk Smoke Finishing Systems, four Avid Film Editing Systems and a Film Recorder. The Chennai facility will help the Company to tap the growing Tamil film market.

The Tamil film industry or 'Kollywood' is the second largest film industry in India and one of the most successful. According to industry estimates more than 135 Tamil movies were made in 2006. Tamil films are popular the world over including in countries like Sri Lanka, Singapore, Japan, Malaysia, United Kingdom, Canada, South Africa and United States. They also get dubbed into other languages like Telugu, Hindi, thus reaching a much wider audience. Additionally several Malayalam and Kannada films are created in Chennai as well. Also, the 2006 success of big budget films such as 'Dishoom', 'Jillini Oru Kaadal', 'Godfather' etc has spurred a boom among producers to make similar big budget extravaganzas costing anywhere between Rs 15 crores to Rs 40 crores.

Says Mr. Amit Gupta, Director - Corporate Development, of the Company, "Prime Focus is India's largest media technology Company with a focus to expand our footprint in the local and global markets. The acquisition of VTR in London and the Chennai facility launch is in line with these growth plans. These facilities will provide us with inroads to tap a large market for international and domestic post production and visual effects work. Clearly our creativity and domain expertise and extensive offerings will help us penetrate deeper into these key markets going forward."

Source : Equity Bulls

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