nice win
Nortel Networks Signs Contracts Valued At Over US$120 Million During Canadian Prime Minister Jean Chretien's Visit to China
BEIJING, Nov. 20 /PRNewswire/ - Coinciding with Canadian Prime Minister Jean Chretien's visit to China, Nortel Networks (NYSE: NT/TSE: NTL) today signed a series of contracts with Chinese customers with a total value of over US$120 million. The signing ceremony was presided over by Canada's Minister of International Trade, the Honourable Sergio Marchi, and His Excellency Zeng Peiyan, China's Minister of the State Development Planning Commission. In addition, an agreement with Tsinghua University was signed to establish a joint research lab. Nortel Networks and its Chinese partners also announced plans to invest an additional US$37.5 million in its switching joint venture, Guangdong Nortel Telecommunications Switching Ltd. (GDNT).
Agreements that were signed include:
- Contracts with The Hebei Post and Telecommunications Administration
for a major expansion of the province's GSM digital cellular network.
- Contracts signed by GDNT, Nortel Networks' flagship joint venture in
China, with the Xian, Tianjin, Yunan, and Guangdong, Post and
Telecommunications Administrations for the delivery of Nortel Networks
DMS switching equipment.
- Contracts for the design, provisioning and installation of equipment
relating to expansion of China Unicom's GSM digital cellular networks
in the provinces of Shandong, Ningxia and Heilongjiang.
- A contract with China Customs to design, build and install the State
Port Private Network, a private ATM network based on the public ATM
network currently used by China Customs.
- Contracts with Sichuan and Chongqing branches of China Unicom to
expand their public switching telephone networks (PSTN) using Nortel
Networks' new PDMX-EV Access product.
- An agreement between Bay Networks, a Nortel Networks line of
business, and Tsinghua University, the leading engineering school in
China, to establish a joint research laboratory to develop computer
networking technologies and products in China. The new research
laboratory will join Nortel Networks' Bay Architecture Lab and
Tsinghua's Network Research Center. The joint research laboratory will
accelerate the development of networking expertise in China. The
agreement also includes an ''expert exchange program'' between Nortel
Networks and Tsinghua University to facilitate closer collaboration.
- An amendment agreement to GDNT's current joint venture agreement.
According to the new agreement Nortel Networks and its Chinese
partners will invest an additional US$37.5 million in GDNT. GDNT
currently manufactures Nortel Networks' world-renowned DMS
SuperNode family of switching products in China. The investment will
be used to further expand GDNT's manufacturing capabilities in the
areas of GSM, CDMA, Access as well as multimedia communications
systems.
On an international level, 1998 has been a very important year for Nortel Networks. Our successful merger with Bay Networks has created a unique customer-driven, dynamic organization which is capable of providing seamless data and voice communications solutions -- Unified Networks -- to customers,'' said Mr. Robert Mao, president and CEO, Nortel Networks China.
The series of contracts we signed today is a clear testimony to our ability in providing customers in China with mission-critical network solutions using Nortel Networks' sophisticated switching, transmission, fiber access, GSM, routers, and ATM networking systems. We are committed to building relationships with our Chinese customers and are proud to set the standard for industry development throughout China,'' Mr. Mao added.
The contract signing ceremony is part of a two-day high-level exchange program between Canada and China. The program included the visit of Canadian Prime Minister Jean Chretien to China. To commemorate the significance of this event, Nortel Networks sponsored an art exhibition entitled ''Canada Through The Eyes of Chinese''. Exhibits on display included paintings and drawings by established Chinese artists. Chinese Premier Zhu Rongji and Canadian Prime Minister Chretien both attended the art exhibition.
SOURCE Northern Telecom Limited |
