Big news for GBLX!
Thursday February 17, 10:02 pm Eastern Time
Company Press Release
Global Crossing and Level 3 Will Partner To Build New 1.28 Terabit Transatlantic Cable
- Joint build strategy allows for accelerated deployment of additional capacity on world's busiest transoceanic communication route.
HAMILTON, Bermuda--(BUSINESS WIRE)--Feb. 17, 2000-- - New 1.28 terabit cable expected to be ready for service by
September 2000.
Cable will set new capacity and capability standard for the world's transoceanic cables.
New co-build strategy preserves flexibility to take advantage of next generation technology as it emerges.
Global Crossing, which is building and operating the world's most advanced global IP-based fiber optic network, announced today that it has entered into an agreement with Level 3 Communications, Inc. (Nasdaq:LVLT - news) to co-build a super-high capacity fiber optic cable across the Atlantic Ocean.
Global Crossing has already built and operates the first independent trans-Atlantic cable, Atlantic Crossing 1, AC-1. When placed into service in 1998, AC-1 doubled the volume of trans-Atlantic capacity available at that time, however, based on exploding demand for capacity in the North Atlantic corridor, Global Crossing has decided to accelerate the deployment of a second cable.
The four fiber pair, 1.28 terabit system is already under construction and has a scheduled in-service date of September 2000. Under the co-build agreement, Global Crossing and Level 3 will each separately own and operate two of the four fiber pairs on the new transoceanic cable. Landing stations are on Long Island in the United States and on the West Coast of the United Kingdom. The new cable will take advantage of the latest advances in fiber optic technology.
Global Crossing's two fiber pairs will be called Atlantic Crossing 2, or AC-2, a system announced March 1999 to provide additional capacity and double-redundancy across the highly trafficked Atlantic corridor, and will be fully integrated with the Global Crossing Network.
Said Bill Carter, president of Global Crossing Development Company: ``This co-build agreement with Level 3 marks a new strategy for transoceanic cable deployment. Co-building along this route will allow Global Crossing to secure the capacity required for the ever-increasing trans-Atlantic demand while we evaluate next generation technology for use in future systems.'
Level 3 is managing the construction of the new cable. In addition, Level 3 will acquire capacity on Global Crossing's Atlantic Crossing 1. This additional capacity will enable Level 3 to offer protected services and develop its meshed network architecture across the Atlantic.
About Global Crossing
Global Crossing Ltd. (Nasdaq:GBLX - news) is building, and offering services over, the world's first global fiber optic network with 97,200 announced route miles, serving five continents, 24 countries and more than 200 major cities. The Global Crossing Network and its telecommunications and Internet product offerings will be available to over 80% of the world's international communications traffic. Global Crossing hosts more than 300 of the top Internet brands at its web hosting division, GlobalCenter. Among the brands are some of the largest and most densely trafficked sites on the Web, including Yahoo!, The Motley Fool, Ziff Davis, MP3.com and eToys. Global Crossing's operations are headquartered in Hamilton, Bermuda, with principal offices in Los Angeles, California; London, England; Morristown, New Jersey; Rochester, New York; and Miami, Florida. Global Crossing can be found at www.globalcrossing.com on the Web.
Statements made in this press release that state the Company's or management's intentions, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to complete systems within currently estimated time frames and budgets; the ability to compete effectively in a rapidly evolving and price competitive marketplace; changes in the nature of telecommunications regulation in the United States and other countries; changes in business strategy; the successful integration of newly-acquired businesses; the impact of technological change; and other risks referenced from time to time in the Company's filings with the Securities and Exchange Commission. |
