Apple announced a new version of Final Cut Pro, its video editing, effects and compositing software, at IBC in Amsterdam this weekend.

Available in November, Final Cut 1.2 is optimized for the G4 and provides improved rendering and special effects. It will be available worldwide for the first time with support for seven languages, including international English, and will support PAL – the European video and broadcast standard.

Final Cut Pro 1.2 greatly accelerates the compressing, and decompressing of images. Other enhancements include the ability to import Macromedia Flash-formatted files; faster digital video encoding and decoding; improved batch capture – including the ability to capture multiple clips and sequences at once, and support for more third-party After Effects plug-ins.

The software will be available as a free download to current Final Cut Pro customers. To others, the price is $999 in the US, with international pricing due to be set at shipping time.