TyCom Wins $100-Million Order from Asia Global Crossing
PEMBROKE, Bermuda, Aug. 28 -- TyCom Ltd. has received an order to upgrade Asia Global Crossing's 21,000-km ring network, called the Pacific Crossing Cable System (PC-1), for an estimated $100 million. TyCom was the original developer of the Washington state-to-Japan network, which was installed late last year.
We are pleased to receive this order, which underscores the significant revenue opportunity in the bandwidth capacity upgrade market, stated Neil Garvey, president and CEO of TyCom. We've now received three capacity upgrade orders in recent months, having a total value of over $240 million. These orders confirm that actual demand for undersea capacity is outpacing the demand forecasted by the industry.
The upgrade will increase the system's capacity to meet demand in the Pacific region, and will happen in three phases, with the first phase to be completed by the end this year the company said. TyCom provides advanced broadband communications capacity, systems and services.
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