WOODLAND HILLS, California, August 15 /PRNewswire/ --
Panavision, the worldwide market leader in the design, manufacture and rental of camera systems for production of motion pictures, television series and television commercials, announced today that it had entered into an exclusive Letter of Intent to purchase the camera inventory of Joe Dunton & Company (JDC). Joe Dunton and Lester Dunton will join Panavision's executive ranks upon completion of the transaction. JDC has rental facilities in London and Wilmington, North Carolina.
"With the acquisition of these assets, Panavision will expand its inventory of high-end film cameras and lenses to support its growing worldwide business," said Bob Beitcher, President and CEO, Panavision, Inc. "It is another step forward in our strategy to acquire valuable assets on a selective basis and to attract entrepreneurial industry leaders to our executive team."
"I'm personally very pleased to be reuniting with Panavision, a company at the very top of our industry," said Joe Dunton. "It's an incredibly exciting platform for me and Lester to continue our innovative approach to solving the issues faced by filmmakers on the set every day. We couldn't be joining a better team!"
The purchase includes all film camera equipment owned by JDC, along with a wide assortment of spherical and anamorphic lenses and camera accessories.
About Panavision (www.panavision.com)
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.
Web site: http://www.panavision.com
SOURCE Panavision Inc.