Prysmian wins $300m Verizon cable deal
Prysmian Group has been awarded a three-year $300 million optical cable supply contract from Verizon Communications, which will see the group supply more than 17 million fibre km of ribbon and loose tube cables
The Group will support Verizon’s US network expansion around a next-generation fibre platform that will speed the deployment of 5G services, while improving 4G LTE and other broadband capacity.
“As a recognised global leading producer of optical cables, supporting the most advanced infrastructure of many of the world’s telecom operators, Prysmian Group is proud to have been chosen by Verizon as partner for the development of such a strategic project,” said Hakan Ozmen, CEO of Prysmian Group North America.
Prysmian Group’s telecom division has worked as an optical fibre, optical cable and connectivity solutions provider to Verizon for more than a decade and the Group is set to make a significant investment through 2018 in its US-based optical cable organisation to support this project and the growth of major telecoms carriers in North America.
According to a Prysmian statement, both companies “feel strongly that demand and supply for the next-generation passive optical network (NGPON2) will last well beyond 2020 as new technologies like 5G and the IoT become reality”.
Viju Menon, Verizon's chief supply chain officer, said: “Prysmian Group’s telecom division is an established optical cable and connectivity solutions provider to Verizon. This strategic supply agreement helps ensure we can ramp supply in order to expand our network capacity and speed 5G deployment.”
“As the world goes wireless, wireless is drawn to fibre. Economic growth and consumer demand depend largely on superfast, gigabit broadband connectivity that is always available. Our pronouncement is that this is best delivered over a fixed optical network,” added Philippe Vanhille, SVP of telecom at Prysmian Group.