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Technology Stocks : TLAB info? -- Ignore unavailable to you. Want to Upgrade?

To: Edalv who wrote (6515)	2/14/2000 9:04:00 AM
From: Beltropolis Boy	Read Replies (1) \| Respond to of 7342

top o' the mornin' to you. hopefully, this'll give us a gap up. ----- Nortel says to expand booming fibre-optic business February 14, 2000 08:04 AM TORONTO, Feb 14 (Reuters) - Nortel Networks Corp. (CA:NT) said on Monday it will invest $260 million and hire 3,400 people to expand its booming fiber-optics equipment business in an attempt to meet the explosive demands of the Internet. This new spending announcement follows Nortel's $400 million investment in optical networking announced in November 1999. Together with an expected tripling of production capacity in 2000, the investments will accelerate the company's ability to meet explosive customer demand for its Optical Internet systems and components, Nortel said in a statement. The networking giant said it plans to invest $186 million in Canada, including $102 million in Ottawa and $84 million in Montreal. An additional $64 million will be invested in Paignton and Monkstown in the United Kingdom, with another $10 million to be dispersed among Nortel Networks' other global operations facilities. Globally, 3,400 new high-tech positions will be created in the areas of manufacturing, engineering, supply chain management, and customer service. "We've established first-mover advantage in the Optical Internet space and lead the market for next-generation optical capabilities. Today's announcement will accelerate this momentum," said Nortel President and Chief Executive John Roth in a statement. Nortel also announced a broad patent cross-licensing agreement with voice and data network designer Tellabs (TLAB), under which the two parties will have rights to each other's patent portfolios, including SONET/SDH and optical networking patents. While Nortel Networks will receive a net royalty in connection with the cross-license, other details of the agreement were not disclosed. Nortel said the arrangement will enable it and Tellabs to focus on the networking needs of their customers and strengthen the long-term competitive position of both companies.