GI in big deal(China)......................................
biz.yahoo.com
Monday June 9 8:11 AM EDT
Company Press Release
Source: General Instrument Corporation
General Instrument's Digital Satellite Technology to Help Bring Educational and Entertainment Programming to as Many as 800,000 Villages in China
SINGAPORE, June 9 /PRNewswire/ -- General Instrument Corporation (NYSE:GIC), the world's leading supplier of high quality, end-to-end digital transmission systems, announced today that it has signed a letter of intent with Huaguang Satellite Cable TV which calls for the joint venture co- production of GI's DigiCipher(R) II/MPEG-2 digital consumer satellite receivers in China for use in the wide-ranging ``villages network'' project.
Huaguang Satellite Cable TV, Ltd., has been granted exclusive rights by the Chinese governmental authorities to build the ``villages network,'' which will bring educational and entertainment programming to as many as 800,000 villages in China. The 800,000 villages represent most of China's one billion plus population.
``Upon the advice and guidance of the Ministry of Radio, Film and TV and China Central TV, the Central Satellite TV Transmission Center and Huaguang have the privilege of bringing important education and entertainment to the people of China. It is a great challenge and responsibility,'' said Ji San Meng, President, Huaguang Satellite Cable TV, Ltd. ``We are very happy to have a partner like GI who is totally committed to helping us realize this dream for China. GI's superior technology will help make this project a reality.''
``GI is very excited about participating in a project of this magnitude,'' said Colin Boyd, Vice President, International Sales, GI's NextLevel Satellite Data Networks Group. ``The villages network has a significance that goes beyond the commercial aspects of the transaction. We are anxious to be a part of the communications transition for the Chinese people as they enter the 21st Century.''
Upon completion of its recently announced strategic restructuring, General Instrument Corporation will divide into three separate public companies that are leaders in distinct global growth markets. NextLevel Systems, Inc., comprised of the Broadband Networks Group, based in Hatboro, PA, the Satellite Data Networks Group, based in San Diego, CA and GI's Next Level Communications subsidiary, based in Rohnert Park, CA will emerge as a leading worldwide supplier of systems and components for high performance networks delivering video, voice and Internet/data services. CommScope, Inc. is the world's largest manufacturer of coaxial cable and a leading supplier of high- performance electronic cables. General Semiconductor, Inc. (currently Power Semiconductor) is a world leader in the sale of discrete semiconductors.
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