Jun, 2001 : Global Crossing Completes Core Worldwide Network
📅 - Global Crossing Ltd. (globalcrossing.com), the operator of the world's most extensive global IP-based fiber optic network, announced on Thursday that it had completed its core network, linking 27 countries and over 200 major cities in Europe, North America, South America and Asia.
The final connection made was between Lima, Peru and South American Crossing, which was already operational in major Latin American markets including Mexico, Argentina, Brazil, Chile, Venezuela and Panama.
"This is one of the most extensive infrastructure projects ever completed, and we have done it in less than four years. Amid difficult market conditions, Global Crossing has built a unique network on budget and on time -- and we can now provide seamless end-to-end connections to both carriers and commercial customers from Europe to North and South America to Asia," said CEO Tom Casey. "We are particularly proud of achieving this milestone at a time when many competitors have had to cut back their network builds due to capital constraints. In today's environment, nobody else will be able to build a network of this scope for years to come."
Casey added that the company's business plan is fully funded, including the receipt of over $3 billion in after-tax proceeds from its ILEC sale to close on June 29. He also said that Global Crossing has recovered more than half of its construction costs through existing sales contracts.
Global Crossing's network, designed and operated as one seamless system, allows the company to pffer its managed broadband services to leading enterprises worldwide. Its customers currently include carriers like Deutsche Telekom, British Telecom, Telecom Italia and Qwest, as well as institutions such as SWIFT, the British Government and the US Navy, and corporations like JP Morgan Chase, Goldman Sachs, Procter & Gamble, Merck, Sony, Pfizer, Microsoft, NEC, American Express, Yahoo! BB, CNBC Europe, Fujitsu and Direct TV.
In addition to its core network, Global Crossing says it is currently building a previously planned Asian extension designed to connect Singapore, Malaysia and the Philippines to the global network. The company expects to complete the fully funded extension in the first quarter of 2002.
The final connection made was between Lima, Peru and South American Crossing, which was already operational in major Latin American markets including Mexico, Argentina, Brazil, Chile, Venezuela and Panama.
"This is one of the most extensive infrastructure projects ever completed, and we have done it in less than four years. Amid difficult market conditions, Global Crossing has built a unique network on budget and on time -- and we can now provide seamless end-to-end connections to both carriers and commercial customers from Europe to North and South America to Asia," said CEO Tom Casey. "We are particularly proud of achieving this milestone at a time when many competitors have had to cut back their network builds due to capital constraints. In today's environment, nobody else will be able to build a network of this scope for years to come."
Casey added that the company's business plan is fully funded, including the receipt of over $3 billion in after-tax proceeds from its ILEC sale to close on June 29. He also said that Global Crossing has recovered more than half of its construction costs through existing sales contracts.
Global Crossing's network, designed and operated as one seamless system, allows the company to pffer its managed broadband services to leading enterprises worldwide. Its customers currently include carriers like Deutsche Telekom, British Telecom, Telecom Italia and Qwest, as well as institutions such as SWIFT, the British Government and the US Navy, and corporations like JP Morgan Chase, Goldman Sachs, Procter & Gamble, Merck, Sony, Pfizer, Microsoft, NEC, American Express, Yahoo! BB, CNBC Europe, Fujitsu and Direct TV.
In addition to its core network, Global Crossing says it is currently building a previously planned Asian extension designed to connect Singapore, Malaysia and the Philippines to the global network. The company expects to complete the fully funded extension in the first quarter of 2002.
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