PRESS RELEASE:Redback Networks,Chinese Pete In Pdt Pact
Redback Wins Multi-Million Dollar
Order From the Chinese Petroleum Corporation for the SmartEdge Optical
Platform
TAIPEI, Taiwan--(BUSINESS WIRE)--July 2, 2001--
Taiwan's Largest State-Owned Enterprise to Set Up State-of-the-Art
SDH Optical Network With Redback's Optical Equipment
Redback Networks Inc. (Nasdaq:RBAK), a leading provider of solutions
for next-generation metro and broadband networks, announced today that
Chinese Petroleum Corporation (CPC), Taiwan's largest state-owned
enterprise, will set up an island-wide SDH (Synchronous Digital
Hierarchy) optical network with the Redback(R) SmartEdge(TM) 800
multi-service optical platform product. The multi-million dollar order
marks Redback's largest SmartEdge sale to date in Asia.
Running alongside its pipelines between Keelung and Kaohsiung, CPC's
island-wide, high-speed SDH optical backbone will connect over 60
nodes and enable multi-service provisioning to support converged data
streams combining voice, video and data. In addition to linking CPC's
vast network of offices and gas stations all over Taiwan, the
462-kilometer backbone will also help the energy giant to leverage its
extensive coverage to provide a bevy of connectivity services for
enterprises. Negotiations are already in progress to lease out
capacity on the backbone to major companies. The SmartEdge 800
multi-service optical platform that will be deployed in CPC's network
is designed to support SONET/SDH and video transport networks while
providing a built-in migration path to high margin IP-based services.
SDH is equivalent to SONET (Synchronous Optical Network), a standard
technology for synchronous data transmission on optical media that
provides faster and less expensive network interconnection than
traditional PDH (Plesiochronous Digital Hierarchy) equipment.
CPC Telecom Business Division CEO Simon K.T. Wang said, "With the
impending privatization of CPC this year, we will face our biggest
challenge for growth in telecom's history. By entering the telecom
market and building our nationwide optical backbone, we are passing
the first milestone in our mission to extend CPC's growth beyond the
traditional model. We will invest NT$0.52 billion this year to
increase the capacity of our fiber-optic network, and upgrade from PDH
to SDH." CPC set up a telecom Division earlier last year to spearhead
its foray into the burgeoning telecom market. The new optical network
will also allow CPC to introduce innovative 3G services with the
addition of wireless equipment in the future.
"CPC has taken a non-traditional route to building their
Next-Generation optical network, by investing in a new breed of
network device that combines the best of both worlds: IP and optical,"
said Benjamin Tay, Redback's area director for North Asia. "CPC
represents a new breed of providers that have very little traditional
baggage to hinder their development of revolutionary communications
services, and we're very excited to be their partner to make it
happen."
Funded 100% by the Treasury, the Chinese Petroleum Corporation (CPC)
was founded in Shanghai on June 1, 1946. It moved to Taiwan in 1949
and is headquartered in Taipei. CPC is a state-owned enterprise under
the Ministry of Economic Affairs that develops and supplies petroleum
and natural gas, and has been the center of Taiwan's petrochemical
industry since the sixties. CPC currently has a work force of
approximately 17,000, and functional units in Taiwan include the
Taiwan Petroleum Exploration Division, Kaohsiung Refinery, Talin
Refinery, Linyuan Petrochemical Plant, Taoyuan Refinery, Taiwan
Marketing & Transportation Division, Exploration & Production Research
Institute, Refining & Manufacturing Research Institute, LNG Project &
Construction Division, and Northern Project & Construction Division.
CPC has also set up liaison offices in Kuwait, Singapore and Vietnam
for crude oil procurement and overseas exploration ventures.
About Redback Networks Inc.
Redback Networks enables carriers and service providers to build
profitable next-generation metro broadband and optical networks. The
Company offers a strong product portfolio that includes
industry-leading subscriber management and optical platforms, as well
as a comprehensive set of network provisioning and management
software. These solutions deliver superior performance and
scalability, reduce operational costs, and expedite the management and
deployment of new services within metro networks.
Founded in 1996 and headquartered in San Jose, Calif., with sales
and technical support centers located worldwide, Redback Networks
maintains a growing and global customer base of more than 350 carriers
and service providers, including major local exchange carriers (LEC),
inter-exchange carriers (IXCs) and service providers. For more
information, please visit www.redback.com.
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995
The statements contained in this press release that are not purely
historical are forward-looking statements within he meaning of Section
21E of the Securities and Exchange Act of 1934, as amended, including
statements regarding Redback Networks' expectations, beliefs,
intentions or strategies regarding the future. Forward-looking
statements include statements regarding product deployment and network
configurations. All forward-looking statements included in this
document are based upon information available to Redback Networks as
of the date hereof, and Redback Networks assumes no obligation to
update any such forward-looking statements. Forward-looking statements
involve risks and uncertainties, which could cause actual results to
differ materially from those projected. These and other risks relating
to Redback Networks' business are set forth in the documents filed by
Redback Networks with the Securities and Exchange Commission,
specifically the most recent report on Form 10-K, and the other
reports filed from time to time with the Securities and Exchange
Commission.
SmartEdge are trademarks of Redback Networks Inc. Other trademarks, service marks and trade names belong to their respective owners.
CONTACT: Redback Networks, San Jose
Anne Smith, 408/571-5044
asmith@redback.com
or
Redback Networks
Jessica Kim, +82-11-695-5570
jeskim@redback.com
KEYWORD: CALIFORNIA TAIWAN CHINA INTERNATIONAL ASIA PACIFIC
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS HARDWARE INTERNET
TELECOMMUNICATIONS PRODUCT |
