Pat, this statment from LU is even better news for NN,which is very strong in Latin America.
Regards
Zbyslaw
Lucent Latin America Chief Bullish On Area
By Angus MacSwan
AVENTURA, Fla. (Reuters) - Telecommunications equipment giant Lucent Technologies Inc (NYSE:LU - news) sees
great opportunities in a vast Latin America that is crying out for modern communications, and it aims for growth ahead of the
market, its chief executive for the region said.
Despite markets fears that Latin American economies are heading into trouble, ''we're extremely committed to this region, it
is absolutely key to our success,'' said Arthur Medeiros, president and chief executive officer for Lucent's operations in Latin
America and the Caribbean.
''We are cautiously optimistic we are going to be successful. ..Latin America is not a perfect economy but its got all the
opportunities in the world for future growth. We're bullish about our opportunities...we're here for the long term,'' he told
reporters at a Latin American business conference.
Medeiros declined to specify Lucent's growth targets.
''My goal is to grow faster than the market. If that market's growing at X, I'm growing at X-plus. That's my goal.''
Latin America, and huge Brazil in particular, promises a bonanza for telecommunications companies as countries benefiting
from boom years seek to modernize traditionally weak infrastructures and integrate their economies.
Overall growth in the industry in the region last year was about 15-17 percent, though it varied between sectors and
countries. The Internet in Brazil grew 60 per cent, the data sector in that country grew 30-35 per cent, and the wireless
sector in some countries 40-45 per cent.
''Rather than come out with a broadbrush statement, I prefer to look at what countries there are, where we're going, with
what technology, determine what growth is within the market place then grow faster,'' Medeiros said.
Lucent's growth in Latin America had been about 30 per cent over the past three years, spokesman Fernando Figueredo
said. |
