November 15, 2011
Source: TE Connectivity Ltd.
SYDNEY, Nov. 15, 2011 /PRNewswire/ -- TE Connectivity (NYSE: TEL) today announced that it has been selected by Australia's NBN Co to supply optical connectivity systems for installation in homes and businesses as part of the National Broadband Network.
NBN Co awarded a five-year, $105 million contract to TE Connectivity. This contract follows NBN Co's $400 million award to TE Connectivity in March for related network equipment. TE Connectivity employs over 350 staff, located in 14 offices and factories, in Australia.
"NBN Co is pleased to be working with TE Connectivity again as we ramp up the network rollout. As we only recently announced our 12-month rollout schedule -- with construction to start in areas covering over half a million premises -- today's announcement is an important part of the development of our supply chain," said the CEO of the NBN Co, Mike Quigley.
"We are excited to have been selected again as an NBN Co partner and we will continue to make investments in infrastructure and staff in Australia in support of the NBN Co. The team at TE Connectivity is extremely proud to be a part of NBN Co's deployment of broadband services in Australia," said Alan Clarke, President, TE Connectivity's Network Solutions segment.
The National Broadband Network has already passed more than 18,000 homes and the NBN Co has announced plans to offer broadband network services to every one of Australia's 13 million premises.
ABOUT TE CONNECTIVITY
TE Connectivity is a global, $14 billion company that designs and manufactures approximately 500,000 products that connect and protect the flow of power and data inside the products that touch every aspect of our lives. Our nearly 100,000 employees partner with customers in virtually every industry -- from consumer electronics, energy and healthcare, to automotive, aerospace and communication networks -- enabling smarter, faster, better technologies to connect products to possibilities. More information on TE Connectivity can be found at http://www.te.com/.
ABOUT NBN Co
NBN Co is an Australian government-owned business enterprise formed in mid-2009 to design, build and operate the national broadband network (NBN). The NBN will enable high-speed broadband to be delivered to all Australian households and businesses through a combination of fiber to the premise, wireless and satellite. NBN Co is operating a wholesale-only, open-access network, and making its wholesale services available to retail service providers on non-discriminatory terms. The total projected capital cost of the 9.5-year construction project is AUD$36B.
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