Chuck Treadway, CEO of CommScope (NASDAQ: COMM), attended a White House event this morning to represent leaders in fiber-optic cable manufacturing. At the event, President Biden and Vice-President Harris announced the state allocations available as a part of their “Internet for All” program. The funding, a component of the Broadband Equity, Access, and Deployment (BEAD) program, totals $42.5 billion in eligible grants through states, Washington, D.C., U.S. territories and Puerto Rico, and can be used to deploy or upgrade broadband networks.
“We are honored to be included in the White House announcement today. Access to broadband is a necessity for new economic opportunities, whether that be through jobs, education, telehealth or simply staying connected,” noted Chuck Treadway, president and CEO, CommScope. “Our goal to bring ‘Broadband for Everyone’ is one of many reasons we innovate and make technology advancements like our new HeliARC fiber-optic cable. Manufactured here in the U.S., this cable is ideal for rural deployment, making affordable reliable high-speed internet access for all an attainable goal. We are pleased to see the Administration make significant investments to bring everyone online and are proud to manufacture the fiber-optic cable and solutions to help our partners bring connections to the underserved communities. We are also excited to work with all the states and their partners to bring broadband and digital equity to America.”
HeliARC™ fiber-optic cable is smaller and lighter-weight allowing for faster installation and lower cost of deployment. Its reduced size and weight permits more product to move in one shipment, thereby lowering shipping costs and making it a more sustainable and environmentally friendly product.
CommScope has the capacity, in its U.S. facilities, to manufacture drop cable at a rate of approximately 2 billion feet per year. We will continue to evaluate other opportunities to meet the needs of the BEAD program.
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News Media Contact:
Luke Hamer
Luke.Hamer@commscope.com
Financial Contact:
Massimo DiSabato, CommScope
+1-630-281-3413
This press release includes forward-looking statements that are based on information currently available to management, management’s beliefs, as well as on a number of assumptions concerning future events. Forward-looking statements are not a guarantee of performance and are subject to a number of uncertainties and other factors, which could cause the actual results to differ materially from those currently expected. In providing forward-looking statements, the company does not intend, and is not undertaking any obligation or duty, to update these statements as a result of new information, future events or otherwise.
Source: CommScope