TYCO INTERNATIONAL'S SUBMARINE SYSTEMS UNIT TO COMMENCE CONSTRUCTION OF NEW US$365 MILLION UNDERSEA FIBER OPTIC CABLE SYSTEM
Hamilton, Bermuda, July 22, 1998 - Tyco International Ltd. (NYSE-TYC, LSE-TYI, BSX-TYC), announced today that its subsidiary, Tyco Submarine Systems Ltd. (TSSL) will commence construction for Global Crossing Ltd.'s (GCL) US$365 million Pan American Crossing cable system (PAC) - the fourth segment of GCL's undersea fiber optic telecommunications network. PAC will connect California, Mexico, Panama, and St. Croix, and will be the largest undersea fiber optic cable system to link North and Central America. Included as part of the system is a 2,000-kilometer undersea link known as Cook's Crossing, which connects Panama to St. Croix, thus joining Global Crossing's undersea cable systems in the Atlantic Ocean with their systems in the Pacific Ocean.
"TSSL's performance has been exceptional since we integrated our Simplex Technologies business with the acquired submarine systems division of AT&T last year," said L. Dennis Kozlowski, Chairman and Chief Executive Officer of Tyco. "This contract clearly demonstrates TSSL's effectiveness in capturing major cable contracts as the size and number of undersea fiber optic systems expands at a rapid pace."
Scheduled for service in February 2000, the 9,000-kilometer PAC system will have an initial capacity of 20 gigabits per second and will be upgradeable using TSSL's Dense Wavelength Division Multiplexing (DWDM) technology.
The PAC cable system, along with Global Crossing's other cable systems, will complete the first independent undersea fiber optic cable network which will span from Europe across the Americas to the Far East. TSSL is also the supplier for Atlantic Crossing (AC-1) and Pacific Crossing (PC-1) undersea cable systems.
Global Crossing, with headquarters in Hamilton, Bermuda, and offices in Los Angeles; Morristown, New Jersey; San Francisco; London; and Amsterdam, is the world's leading independent developer, owner and operator of open-access, fiber optic global telecommunications networks.
TSSL, a wholly owned subsidiary of Tyco International Ltd., is the only vertically-integrated worldwide supplier of undersea communications systems and services, and has successfully designed, manufactured and installed approximately 265,000 kilometers of undersea cable systems. TSSL operates a fleet of eight cable ships, and owns cable, repeater and transmission equipment manufacturing facilities dedicated to the production of undersea optical fiber communications systems.
Tyco International Ltd., a diversified manufacturing and service company, is the world's largest manufacturer and installer of fire protection systems, the largest provider of electronic security services, and has strong leadership positions in disposable medical products, packaging materials, flow control products, electrical and electronic components and underwater telecommunications systems. The Company operates in more than 80 countries around the world and has expected annual revenues in excess of $13 billion.
FORWARD LOOKING INFORMATION
Certain statements in this release are "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All forward looking statements involve risks and uncertainties. In particular, any statements contained herein regarding the consummation and benefits of future acquisitions, as well as expectations with respect to future sales, operating efficiencies and product expansion, are subject to known and unknown risks, uncertainties and contingencies, many of which are beyond the control of the Company, which may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. Factors that might affect such forward looking statements include, among other things, overall economic and business conditions, the demand of the Company's goods and services, competitive factors in the industries in which the Company competes, changes in government regulation and the timing, impact and other uncertainties of future acquisitions.