Massive Nortel Investment Will Create U.K. Jobs
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Nortel Networks announced this week that it will be investing $400 million to triple its global production capacity for optical Internet systems.
The investment will create 5000 full-time positions, of which 1800 will be in the U.K.
Nortel (NT) plans to expand its existing campuses in Paignton, England, and Monkstown, Northern Ireland, while also building new facilities in Canada and increasing its supply chain and customer service capabilities in the United States.
"We're moving at Web speed to meet growing customer demand for our market-leading Optical Internet capabilities," said John Roth, president and CEO, Nortel Networks.
Nortel has taken a lead in the development of dense wavelength division multiplexing (DWDM) 6.4 terabit systems which require precise production of hundreds of specific wavelengths of lasers. A new plant in Ottawa will fabricate the necessary components.
The overall market for optical networking and components is growing at 50 per cent annually and is expected to reach $35 billion by 2001. It is being driven by the explosive demand for bandwidth by corporate and consumer Internet users.
Nortel said that its U.K. investment will total $105 million, divided between Paignton and Monkstown.