ANTEC Announces Letter of Intent to Form a Design and
Construction Management Joint Venture
Thursday May 15 9:08 AM EDT
Company Press Release
Source: ANTEC
ANTEC Announces Letter of Intent to Form a Design and
Construction Management Joint Venture
ROLLING MEADOWS, Ill., May 15 /PRNewswire/ -- ANTEC Corporation (Nasdaq:ANTC)
today announced that it has signed a letter of intent, subject to certain approvals, with
Tele-Communications, Inc. (TCI) to form a joint venture limited liability corporation which would
provide design, engineering and construction services in support of TCI's recently announced plans
to upgrade its domestic cable TV systems. Pre-engineering and design work in anticipation of the
implementation of TCI's upgrade program is already in progress. Construction will begin during the
second half of 1997.
``We have begun an aggressive program to upgrade our facilities nationwide and to bring a wide
range of new digital services and capabilities to our customers,'' said Tony Werner, TCI senior vice
president engineering & technical operations.
As previously announced, TCI plans to invest significant capital over the next three years to
upgrade both its transmission facilities and headend equipment. To implement these upgrade plans,
considerable engineering, design and construction activities must be completed. The new joint
venture company will ensure that uniform engineering and construction planning is in place and
implemented so that an orderly and efficient construction and installation program is followed.
ANTEC Corporation (http://www.antec.com) is an international communications technology
company serving the broadband information transport industries. Headquartered in Rolling
Meadows, Ill., ANTEC has major divisional offices in Atlanta and Denver; manufacturing facilities
in New Jersey, Texas, Illinois, Alabama and Juarez, Mexico, and sales offices throughout Europe,
Asia/Pacific and Latin America. ANTEC specializes in the manufacturing, materials management
and distribution of products for hybrid/fiber coax (HFC) broadband networks, as well as the
design and engineering of these networks.
The forward looking statements in this report are subject to a number of factors that may cause
actual results to differ materially. Such factors include acceptance of products under cancelable
orders, performance of new products, ability to deliver new products in a timely and profitable
manner, developments and competition in customers' markets, general economic conditions,
availability and cost of capital, other demands and opportunities for capital (such as acquisitions),
regulatory developments, and other factors more fully described in our reports to the Securities and
Exchange Commission, including our reports on Form 10-K.
SOURCE: ANTEC
More news for referenced ticker symbols: ANTC, and related industries: telecommunications.
Regards, Jeff |
