Lockheed, Global Crossing Sign Latin Deal

NEW YORK, May 4 -- Lockheed Martin Global Telecommunications and Global Crossing Ltd. have agreed to provide fiber optic connections between Latin America and the United States. The companies said the agreement is worth more than $30 million, and will provide connections from the US to Buenos Aires, Argentina; Lima, Peru; and Caracas, Venezuela. Under the terms of the agreement, LMGT will purchase from Global Crossings 25-year indefeasible rights of use for connections between Miami and Buenos Aires, Miami and Lima, and Miami and Caracas.