General Cable Corporation (NYSE: BGC) reported today 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.