6 Mar 2014 15:45
Pinewood signs a China Consultancy Services Agreement with the Dalian Wanda Group
Pinewood Shepperton plc ("the Company" or "Pinewood"), a leading provider of services to the global film and television industry, today (6 March 2014) announces at a signing ceremony, hosted by Deputy Prime Minister Nick Clegg, that it has entered into a Consultancy Services Agreement with the Dalian Wanda Group to advise on the design and construction of a new film and television studio complex. Opening in 2016, the film studio will form part of the 'Qingdao Oriental Movie Metropolis', located west of Qingdao, Shandong, China.
The film studio will cover a 200 hectare area and comprise sound stages, workshops, a post-production area and themed backlots. Once completed, it will be one of China's largest film and TV studio facilities.
The Dalian Wanda Group Corporation Limited is a Chinese conglomerate with activities in commercial property, luxury hotels, department stores, cinemas and tourism.
Deputy Prime Minister, Nick Clegg said:
"Pinewood studios are world leaders in the film industry and are renowned for their cinematic knowledge and expertise. The recent success of the multi-Oscar winning Gravity, which was filmed at Pinewood and Shepperton, is one of many examples of this."I am very pleased that this deal means British experts will be advising on the design and construction of one of China's largest film and TV studio facilities."The agreement is great news for the British film industry, as well as a welcome boost to the wider economy."
Ivan Dunleavy, Pinewood CEO, said:
"We' re delighted to be working with Wanda on the design of the visionary Qingdao Oriental Movie Metropolis project, which we hope will be another successful step in our growing relationship with the Chinese film industry".
Wang Jianlin, Chairman of the Dalian Wanda Group said:
"Qingdao Oriental Movie Metropolis will be the most advanced movie studio with the largest investment of the world. Wanda has invited the best companies and talents of the world to develop this project. I believe that with its opening in 2016, it will become one of the majorcentres of the movie industry in the world."
Enquiries
Pinewood Shepperton plc +44 (0) 7768 105197
Andrew Smith, Director of Strategy and Communications
About Pinewood
The Pinewood Studios Group is a leading provider of studio and related services to the global film and television industry. Synonymous with world class British and international productions, the impressive heritage of its UK-based Pinewood and Shepperton Studios date back to the early 20th Century and are home to some of the most successful feature films and TV shows ever made.
The facilities comprise the best quality sound stages, a globally unique underwater filming stage, a wealth of specialist production resources, state of the art TV studios, post production and digital content services. The studios also offer easy access to the world's most experienced crews as well as the expertise of hundreds of complementary media companies based at its Pinewood and Shepperton Media Hubs.Renowned across the globe for excellence in its field, the Pinewood brand is now being exported overseas to studios in Toronto, Canada; Atlanta, Georgia USA; Berlin, Germany; Iskandar, Malaysia and the Dominican Republic.
The Pinewood Group offers equity and debt financing to UK film and television production as part of its growing range of advisory services, representing media funds of both Isle of Man and Welsh Governments.
Recent film and TV productions that have used the Studios' facilities include the 23rd James Bond film Skyfall (Eon Productions/MGM/Sony Pictures); Maleficent (Disney) Thor: The Dark World (Marvel); Fast and Furious 6 (Universal); Jack Ryan (Paramount); The Muppets Most Wanted (Disney) and Kick-Ass 2 (Universal); The Voice; Would I Lie to You?; The National Lottery; Got To Dance and I Love My Country.
Visit www.pinewoodgroup.com for more information.
About Wanda
Dalian Wanda Group was founded in 1988. In 2013, the company has 380 billion yuan ($62.8 billion) in total assets, and 186.6 billion yuan ($30.8 billion) in annual revenue, 22.6 billion yuan in annual taxes, and net profit of more than 10 billion yuan. Wanda Group has increased its portfolio to 85 Wanda Plazas, 54 hotels (among which 51 are five-star hotels), 6,200 movie screens, 75 department stores and 81 karaoke centres.
Wanda Commercial Properties Co., Ltd. is a global leader in the field of commercial property with a portfolio of 85 Wanda Plazas across China and an investment property of 17.04 million sqm, ranking No. 2 in the world. Wanda Commercial Properties has the only business planning and research institute in China, a national commercial property construction team, a national business management company, all of which form a full industry chain giving it a competitive advantage in the industry.
Wanda is currently operating 51 five-star and super five-star hotels in China. Wanda Hotels & Resorts Management Company owns three hotel brands: the five-star Wanda Realm, the luxury five-star Wanda Vista and the super luxury five-star Wanda Reign.
Beijing Wanda Culture Industry Group is China's largest cultural enterprise, with 44 billion yuan in total assets and 25.5 billion yuan in total revenue for 2013. The group operates in the following sectors: film production, cinema line, large theme parks, large stage shows, film technology, karaoke chain, publications & media, calligraphy & painting collection, and travel agencies, etc. Six sectors out of them rank No. 1 in China. Wanda is the company that invests largest amount in cultural tourism industry in China: the 50-billion-yuan Wuhan Central Cultural District and 20-billion-yuan Changbaishan International Resort have already opened; and the 50-billion-yuan Qingdao Oriental Movie Metropolis is the biggest film & TV project in the world. Besides, Wanda is also investing 100 billion yuan in the large cultural tourism projects in Xishuangbanna, Harbin, Nanchang, Hefei, Wuxi and Guilin, etc.
Visit wanda-group.com for more information