Prysmian awarded North American contract

Prysmian Group has been awarded a significant supply agreement from the US telecom company Verizon Communications. The three-year contract is worth approximately USD 300 million and will include supply of more than 17 million fibre kilometres of ribbon and loose tube cables. “As a recognized 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, says Hakan Ozmen, CEO of Prysmian Group North America. Prysmian Group’s telecom division has qualified as an optical fiber, optical cable and connectivity solutions provider to Verizon for more than a decade. The Group has three telecom production sites in the United States, two for the production of optical cable and one for optical fiber. Prysmian will 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. 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.” Philippe Vanhille, SVP Telecom at Prysmian Group, commented “As the world goes wireless, wireless is drawn to fiber. 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.”