COMM - CommScope investing $47M to expand fiber-optic cable production

2023-03-29 16:20:39 ET

• CommScope ( NASDAQ: COMM ) says it's expanding fiber-optic cable production to help feed an accelerated rollout of broadband Internet in the United States.
• That comes in part due to expanding manufacturing at its two production facilities in North Carolina, including new lines of production for its HeliARC cable - a smaller and lighter-weight cable optimized for rural deployment and allowing for faster installation at lower cost.
• Alongside the increased output, the company expects to increase employment by at least 250 jobs in five years .
• It will mean $47M in capital expenditures in the U.S.
• "This increase in fiber-optic cable production is a great step forward for our ‘Broadband for Everyone’ program, furthering our commitment to serve the fiber optic cable market,” said CEO/President Chuck Treadway.
• “We will produce more cost-effective and easier-to-deploy fiber-optic cable, add new jobs and simultaneously strengthen the supply chain in America," he added.

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