Nordenham, Germany
General Cable Corporation (NYSE: BGC) reported that its subsidiary, Norddeutsche Seekablewerke GmbH (NSW), has been awarded its first submarine long-haul repeatered fiber optic communications link project.
The communications link will stretch through the Mediterranean Sea from Marseilles, France to Port Said, Egypt, with additional connections in Italy, Turkey and Cyprus. The project will have a length of more than 2,600 miles and will be installed at depths of up to 11,000 feet. NSW's portion of this project is valued at approximately $40 million with cable delivery and installation beginning later this year. "NSW has been investing heavily to support the expansion of our product offering to include long-haul submarine fiber optic communications cables. We believe that this global market, which is coming off nearly a decade of decline, is positioned to rebound throughout the world as nations increase their need for reliable communications links," said Valentin Jug, Chairman of NSW.
General Cable acquired NSW in April 2007 and began an investment program to expand the capability of the facility to include submarine power cables and repeatered submarine communications cable. NSW is located on a tributary of the North Sea, with its own deep-sea pier. The Company believes that once the expansion of NSW is completed, it will be well positioned to address all aspects of submarine cable needs for the expanding communications, offshore wind farm and energy exploration markets.
NSW, headquartered in Nordenham, Germany, is a leading manufacturer of submarine fiber optic communications and offshore power cables serving customers all over the world. For more information about NSW, please visit our website at www.nsw.de.
General Cable is a global leader in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products for the energy, industrial, and communications markets. Visit our website at www.generalcable.com.
Certain statements in this press release, including without limitation, statements regarding future financial results and performance, plans and objectives, capital expenditures and the Company's or management's beliefs, expectations or opinions, are forward-looking statements. Actual results may differ materially from those statements as a result of factors, risks and uncertainties over which the Company has no control. Such factors, risks, and uncertainties are more fully discussed in the Company's Report on Form 10-K filed with the Securities and Exchange Commission on February 29, 2008, as well as periodic reports filed with the Commission.
Source: Business Wire (Business Wire India)