Iwerks and Japanese Firm to Build 2nd Cinetropolis

Iwerks Entertainment Inc. has signed an agreement with Japan’s Itochu Corp. to provide hardware for a second Cinetropolis movie complex in a shopping mall now under construction in Chiryu, Japan. Burbank-based Iwerks aims to build a global network of these entertainment centers featuring films and virtual reality attractions.

The exact value of the agreement was not released. Iwerks said only that its worth was in the millions of dollars.

Under the agreement, Itochu will buy equipment from Iwerks to develop the Cinetropolis. And Iwerks is also working on an agreement with Itochu so Iwerks will collect royalties for the use of its film software. The 31,000-square-foot Chiryu Cinetropolis is expected to be completed in November, 1994.

Iwerks’ first Cinetropolis opened in January in Connecticut.

Iwerks, which went public last fall, develops special format theaters, virtual reality games and simulation rides.