China Netcom Completes Agreement with FiberNet for Network Services
June 24, 2004 07:55:00 (ET)
NEW YORK, Jun 24, 2004 /PRNewswire-FirstCall via COMTEX/ -- FiberNet Telecom Group, Inc. (FTGX, Trade), a leading provider of managed network services, announced today it has signed an agreement with China Netcom, one of China's largest telecommunications companies, for colocation within the 60 Hudson Street Meet- Me-Room and interconnection and transport services throughout New York City. The agreement initially requires FiberNet to interconnect its network with China Netcom through both optical and electrical entrance facilities. Once in place, China Netcom will have the ability to provision its corporate network services within the New York metro area in a cost effective and timely manner utilizing FiberNet's extensive network infrastructure.
"China Netcom's selection of FiberNet for colocation and network services within New York is testimony to the value that FiberNet offers to the carrier and enterprise market," stated Michael Liss, President and CEO of FiberNet. "By utilizing our core metro services, China Netcom is able to leverage its extensive business applications to serve the enterprise market."
FiberNet's Meet-Me-Room provides its customers, like China Netcom, with the optimized efficiency and flexibility of a centralized, carrier-class, interconnection and colocation facility, operated on a carrier-neutral basis. 60 Hudson Street is one of the preeminent carrier hotels in the world, serving as an international hub for over 100 telecommunications carriers, including the leading global service providers. Combining these colocation services with FiberNet's extensive network offers customers robust solutions to their metro local loop needs.
About China Netcom
CNC International was officially launched in Beijing on November 6, 2003. It is the exclusive window for China Netcom to conduct international business, manage international network assets, serve all international carrier and enterprise customers, as well as realize China Netcom's internationalization strategy and overseas cooperation.
CNC International combines the assets, network, business and personnel from CNC (Group) and CNC Holdings Corporation. Together with CNC North and CNC South, CNC International is one of the three subsidiary companies of CNC (Group). The main responsibilities of the company include operating and running the international network assets of China Netcom, servicing international carriers and overseas enterprise customers, managing all infrastructure inside China used for international business, overseeing all international business overseas, running all China inbound and outbound data business, handling all inbound international calls, and settlement for all outbound international calls.
CNC International will carry out the management system in accordance with modern enterprise system. The senior management team consists of senior executives from CNC (Group), CNC Beijing, and CNC Holdings Corporation.
About FiberNet Telecom Group, Inc.
FiberNet Telecom Group, Inc. deploys, owns and operates fiber-optic networks designed to provide comprehensive broadband connectivity to other telecommunications service providers for their data, voice and video transmissions. The Company's networks provide an advanced, high bandwidth, fiber-optic solution to support the demand for network capacity and to facilitate the interconnection of multiple carriers' networks. FiberNet's primary business is to provide optical and electrical broadband circuits within and between carrier hotels, which are industrial buildings where service providers house their communications equipment to exchange and route communications traffic. The Company's networks support multiple domestic and international transmission protocols including synchronous optical network, or SONET, synchronous digital hierarchy, or SDH, Ethernet, and Internet Protocol, or IP, and can deliver broadband connections with bandwidth ranging from 1.5 megabits per second to 10.0 gigabits per second, as well as optical wavelengths. FiberNet currently operates primarily in the two gateway markets of New York and Los Angeles, focusing its services in the local loop of major metropolitan areas. For more information on FiberNet, please visit the Company's website at http://www.ftgx.com.
Various remarks that we may make about FiberNet's future expectations, plans and prospects constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Such remarks are valid only as of today, and we disclaim any obligation to update this information. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in the FiberNet's most recent Annual Report on Form 10-K, which is on file with the Securities and Exchange Commission.
SOURCE FiberNet Telecom Group, Inc.
Norma I. Salcido Director, Marketing and Communications of
FiberNet Telecom Group, Inc., +1-212-405-6210, [email protected]
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