$60.3 million investment will help bring broadband services to underserved and rural communities throughout the U.S.
HICKORY, N.C.--(BUSINESS WIRE)--Jul. 26, 2023--
CommScope® (NASDAQ: COMM), a global leader in network connectivity, announced today the company plans to invest $60.3 million over the next four years to expand its manufacturing facilities based in North Carolina. These plans bolster CommScope’s ability to meet U.S. supply demands driven by federal initiatives to bring ‘Internet For All’ – including in underserved and rural broadband markets – and will also enhance production capacity over the next four years. Increased production and creation of at least 250 new jobs will align with demand driven from states throughout the U.S. as they begin to disburse Broadband Equity, Access, and Deployment (BEAD) Program funding.
“Broadband for everyone is no longer a luxury, but rather a critical necessity to participate in today’s society and economic market,” stated Chuck Treadway, president and CEO, CommScope. “We have long been committed to supplying our partners with the solutions necessary to bring broadband to everyone. Furthering our long-standing relationship with the State of North Carolina is a great next step to bring ‘Internet For All’, and we are thrilled to work with the State on this endeavor. This partnership not only contributes to the economic prosperity of Catawba County but also furthers our commitment to meet the objectives of the BEAD program. This exciting expansion continues to shine a spotlight on Catawba County and North Carolina as the hub that supplies the nation with fiber cable.”
CommScope currently has the capacity to manufacture drop cable at a rate of approximately 2 billion feet per year in its U.S. facilities – a level of production that will allow states and their partners to connect every underserved American as a part of the BEAD program. The expansion will further allow CommScope to manufacture the necessary cable to enable service providers to deploy broadband across the U.S. Capacity increase will align around loose tube production and additional fiber cable counts and styles needed for rural deployment, including CommScope’s HeliARC™ fiber-optic cable. First announced in March, the HeliARC fiber-optic cable is specifically designed for rural fiber network architecture.
“Connecting every household in North Carolina to high-speed internet is going to take a lot of fiber, and with this expansion CommScope is answering the call not only with American jobs, but North Carolina jobs,” stated N.C. Governor Roy Cooper. “We appreciate CommScope’s additional investment in Catawba County and their confidence in our workforce to improve the nation’s fiber-optic infrastructure.”
“We are honored CommScope has chosen Catawba County from which to continue to manufacture the cutting-edge technologies that will help bring about ‘Internet for All’ across our state and nation,” Randy Isenhower, chair of the Catawba County Board of Commissioners, remarked. “As a company, CommScope remains one of our community’s greatest success stories from its entrepreneurial origin to its present Fortune 500 global enterprise. Their legacy and impact continue to grow with today’s announcement.”
CommScope and the CommScope logo are registered trademarks of CommScope and/or its affiliates in the U.S. and other countries. For additional trademarks information see https://www.commscope.com/trademarks. All product names, trademarks and registered trademarks are property of their respective owners.
CommScope (NASDAQ: COMM) is pushing the boundaries of technology to create the world’s most advanced wired and wireless networks. Our global team of employees, innovators and technologists empower customers to anticipate what’s next and invent what’s possible. Discover more at www.commscope.com.
Follow us on Twitter and LinkedIn and like us on Facebook.
Sign up for our press releases and blog posts.
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230726503630/en/
News Media Contact:
Massimo DiSabato, CommScope