Tyco Submarine Systems Wins Cable Contract

MORRISTOWN, NJ, May 3 -- Tyco Submarine Systems Ltd. has signed a contract, valued initially at over $700 million, to provide the South American Crossing (SAC) cable system for Global Crossing Ltd. The SAC system will directly connect Brazil, Argentina, Chile, Peru, Colombia, Panama, and St. Croix (US Virgin Islands). This undersea system will utilize the most advanced dense wavelength division multiplexing fiber optic technology available.
Tyco and Global Crossing also announced that Lucent Technologies, Inc. will supply fiber and equipment to Tyco for the SAC system, as well as financing to Global Crossing under terms of an earlier agreement between Lucent and Global Crossing.