Disney Company chief Bob Iger has revealed that Disney and Pixar are moving forward with the animated sequels Cars 3 and The Incredibles 2. He made the announcement today in Portland Oregon during the company's shareholders meeting.

Brad Bird, director of the original The Incredibles, is penning the screenplay for the sequel. Fans have wanted a follow-up for over a decade, with Brad Bird occasionally teasing that he would return for a second installment if the story was right. It is not known if he will direct. He is currently in the midst of production on Disney's Tomorrowland, which hits theaters this Christmas.

No other details were revealed about either project.

Cars 2 was Pixar's 12th feature film and earned $560 million worldwide in 2011. While considered a critical disappointment, the feature made millions for Disney in consumer products such as toys, apparel, and other merchandise. It also helped create the popular spin-off Cars Toons short and the Disney's Planes theatrical franchise. The later of which was developed as a direct-to-video series but went onto launch a successful toy line and earn over $220 million at the box office. The sequel Planes: Fire & Rescue is planned for this July.

Cars Land has become a successful attraction at Disney's California Adventure theme park in Anaheim. The original Cars was released in 2006 and earned $461 million worldwide.

It was announced http://movieweb.com/pixar-planning-3d-re-releases-for-the-incredibles-and-ratatouille/yesterday that Disney and Pixar plan to re-release The Incredibles in 3D, as well as Ratatouille. No release strategy has been announced at this time.