Lucent Technologies said Thursday it will work with a Russian company to manufacture fiber-optic cable to meet the growing needs of network operators in Russia and other countries within the Commonwealth of Independent States.
Lucent (LU) and SviazStroy-1 together have formed Lucent Technologies SviazStroy-1 Fiber Optic Cable Co., to be based in the Russian city of Voronezh. New Jersey-based Lucent will be the majority owner of the joint venture, with a 51 percent share. SviazStroy-1, an installer of fiber-optic cable in central Russia, will own 49 percent.
Initially, some 60 people will be employed by the new company, with about 40 production employees expected to be hired for the fiber-optic cable operation during the next two years.
Lucent already has more than 400 employees at nine locations in Russia in manufacturing, sales, and service operations.
The facility, to be located in existing SviazStroy-1 workshops, will produce single-mode fiber-optic cable (used for high-speed transmission and long distance), as well as Lucent's fiber-optic cable products. It is expected to begin production in the next few weeks.
Copyright© 1999 Reuters Limited.
