Mark and all:
Another "WE ARE MOVING FORWARD" press release about LVLT and the rapidly accelerating implementation of its network. No big news, but certainly another indication that things are moving right along at a rapid pace:
Asahi/America Signs Contract to Provide Polyethylene Fibre Optic Cable Duct For Level 3
Communications
PR Newswire, Tuesday, July 07, 1998 at 08:49
MALDEN, Mass., July 7 /PRNewswire/ -- Asahi/America, Inc. (NASDAQ:ASAM)
announced today that the Company has signed a 30-month contract to provide
polyethylene fibre optic cable duct for Level 3 Communications, Inc.
(NASDAQ:LVLT), who are in the process of constructing a 17,000-mile,
eight-line advanced fibre communications network across the United States.
The contract calls for Asahi/America to produce 1,000 miles a month of
polyethylene fibre optic cable duct for Level 3 Communications.
Asahi/America's wholly owned subsidiary, Quail Piping Products Inc., will
begin producing one million feet of duct per month at its manufacturing
facility in Magnolia, Ark. Additional extrusion lines will commence
operations beginning in the fourth quarter at the Company's new 55,000-square-
foot Kingman, Ariz., facility, increasing total production to over five
million feet of duct per month.
Leslie B. Lewis, Chairman and Chief Executive Officer of Asahi/America,
said, "Our selection by Level 3 reflects our Company's ability to quickly and
efficiently produce a quality product for their fast moving construction of a
national communications network. It also represents a further expansion of
both the presence and reach of our Quail Piping subsidiary into additional
markets of opportunity. We will continue to position our expertise and
experience, exploring and developing new markets, especially in emerging
technologies, which can benefit from the ease of use, flexibility and
efficiencies that plastic provides."
Utilizing Internet technology, Level 3 Communications plans to build local
networks in cities across the country and to interconnect these city networks
with a national long distance network. When complete, the network will be the
first national telecommunications network to use Internet technology end to
end, and will be utilized to provide a full range of communications services
-- including local, long distance and data transmission as well as other
enhanced services.
Quail Piping Products, Inc. also manufactures corrugated polyethylene
piping systems for use in municipal storm drainage, culverts, side road pipes
and sanitary sewers.
Asahi/America, Inc. is a leading marketer and manufacturer of
thermoplastic valves, valve actuators and controls, piping systems, flow
meters and industrial filtration equipment manufactured by the Company and
others for use in a variety of industrial applications, including
semiconductor manufacturing, chemical processing, pharmaceutical
manufacturing, aquarium and waste treatment.
Matters discussed in this news release, including any discussion of or
impact, expressed or implied, on the Company's anticipated operating results
and future earnings per share contain forward-looking statements (identified
by the words "estimate," "project," "plan," "believe," "expect" and similar
expressions) that involve known and unknown risks and uncertainties. The
Company's operating results may differ significantly from the results
indicated by such forward-looking statements. The Company's operating results
may be affected by many factors, including but not limited to competition,
marketing programs, the valuation of the U.S. dollar against the Japanese yen,
the ability to acquire and assimilate complementary businesses, special or
unusual events, and other factors that may affect manufacturers in general.
These and other risks are detailed from time to time in the Company's SEC
reports including the Company's Registration Statement on Form S-1 filed May
14, 1996, and its Form 10K for the year ended December 31, 1997.
SOURCE Asahi/America, Inc.
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Steve |
