Chennai: Chennai-based movie theatre chain, Pyramid Saimira Theatre Ltd (PSTL) has got hold of Texas-based, FunAsia to make its dream a reality.

PSTL is aimed to make 60 screens in 15 different locations in United States US and Canadian market, and 1,000 screens through the world, by the end of this existing fiscal.

P. S. Saminathan, Managing Director, PSTL told news persons that the recent acquirement was made in cash through the company’s subsidiary, Pyramid Saimira Entertainment America Inc.

Mr. Saminathan also told that previously it had bought a subsisting theater and radio drive-time hours in Chicago and radio time in Houston. This acquisition had increased the total number of Pyramid Saimira’s screens to 703 globally.

He also said that PSTL has also decided to foray into the food and beverages division by opening up ten food courts crosswise the country by this current fiscal.

“We are looking at a brand acquisition to leverage our food and beverage business and will consider floating a subsidiary when the time is right,” he said.

The company was aiming to make $1 billion turnover from food and beverages division, by 2010.

In the first two quarters, PSTL had recorded earnings of Rs. 123 crore and Rs. 146 crore correspondingly. The company has an annual target of Rs. 650 crore. It added up 116 new screens in the second quarter, and now had 487 screens across India.