TE Connectivity (TEL) Awarded $400 Million Contarct From NBN Co.
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TE Connectivity (formerly Tyco Electronics) (NYSE: TEL) has been selected as a supplier of network connectivity products for the Australian government's National Broadband Network (NBN) program that will bring high-speed broadband services to the country.
NBN Co awarded a five-year, $400 million contract to TE Connectivity with an initial purchase commitment of $100 million. This contract award follows TE Connectivity's and ADC's supply to date of more than $4 million of passive optical equipment into NBN Co's First Release sites, which are currently well under construction. TE Connectivity acquired ADC in December, 2010.
NBN Co awarded a five-year, $400 million contract to TE Connectivity with an initial purchase commitment of $100 million. This contract award follows TE Connectivity's and ADC's supply to date of more than $4 million of passive optical equipment into NBN Co's First Release sites, which are currently well under construction. TE Connectivity acquired ADC in December, 2010.
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