20 January 2014

Cinesite to Open New Studio in Montréal, Canada

London - 20 January 2014 - London-based Cinesite VFX will be setting up a new studio in Montréal, Province of Québec, Canada creating 200 jobs, possibly climbing to 250 by 2018. Opening the studio will require a $6.7-million capital investment by the company, which expects to have a total payroll of $42.4 million. Cinesite also plans to carry out R&D on production techniques and pursue other activities related to the creation of animated films. The Québec government is granting Cinesite inc. an interest-free loan of $1.2 million through Investissement Québec to assist with the project

"I am very proud that Cinesite has chosen Québec as its key partner in North America," stated Québec Premier Pauline Marois. "The creation of lasting jobs in Québec is the top priority of my government's economic policy. To meet our goal of creating 43,000 high-quality jobs by 2017, we are supporting major economic initiatives like this new venture from Cinesite inc., a member of the thriving visual effects industry. Montréal will now be home to a new company, one that will be of strategic importance to its film and television and video game industries and is likely to draw more major film shoots and multimedia productions to Québec." 

Cinesite VFX provides special effects and animation services for film and television. Its clients include several major Hollywood studios, including The Walt Disney Company, Paramount Pictures, 20th Century Fox and Warner Bros., as well as such television networks as HBO Films and BBC. 

"Over time, our company has acquired cutting-edge expertise in creating special effects and managing large-scale projects, skills we draw on to create popular, high-quality products. Setting up a North American sister company marks an important step in the growth of Cinesite VFX. The city of Montréal offers a number of significant advantages for our company, including a qualified workforce and vibrant film and video game industries. Those strengths will no doubt contribute to Cinesite inc.'s success in the Americas and to raising the profile of Québec and its largest urban centre around the globe," asserted Antony Hunt, Managing Director of Cinesite VFX. 

Source: Investissement Québec