CommScope, Inc. (NYSE: CTV), the world leader in coaxial cable, today
held its first stockholders' meeting as an independent public company.
CommScope Chairman and Chief Executive Officer Frank M. Drendel told
stockholders that 1997 was an extraordinary year to become an
independent company. "Technology, competition and deregulation are
driving fundamental changes in the global telecommunications industry.
While we would have wished for a stronger domestic market and a far more
stable international atmosphere for our debut as a stand-alone company,
we made significant strides. We strengthened our position as the world's
largest supplier of coaxial cable, continued our leadership in the
premise-wiring market and expanded our presence in the wireless market
for coaxial cable," said Drendel.
Drendel, in his first meeting with stockholders since the July 1997
spin- off from General Instrument Corporation, expressed optimism about
CommScope's outlook. "We're excited about CommScope's future because we
believe that Hybrid-Fiber Coaxial (HFC) networks will become the
broadband connector for the next generation of multi-channel video,
voice and high-speed Internet applications," Drendel reported.
In other business, stockholders approved all four issues before them,
including re-election of George N. Hutton, Jr. and Boyd L. George as
directors, stock option and incentive plans and appointment of
CommScope is the world's largest manufacturer of coaxial cable and a
leading supplier of high-performance electronic cables for LAN and other
applications. CommScope is based in Hickory, North Carolina and traded
on the NYSE under the symbol CTV.
Visit CommScope at our website -- www.commscope.com
"Safe Harbor" Statement under the Private Securities Litigation Reform
Act of 1995: Statements in this press release regarding CommScope's
business which are not historical facts are "forward-looking statements"
that involve risks and uncertainties. For a discussion of such risks and
uncertainties, which could cause actual results to differ from those
contained in the forward-looking statements, see "Risk Factors" in the
Company's Annual Report or Form 10-K for the most recently ended fiscal