AWARDED ADDITIONAL CONTRACT WITH CITYFIBRE VALUED AT APPROXIMATELY CAD$13 MILLION FOR FTTP INSTALLATION IN THE UK
Lite Access Technologies Inc. (LTE.V) has been awarded an additional contract with CityFibre, the United Kingdom's leading alternative provider of wholesale full fibre infrastructure, for fibre-to-the premises (FTTP) installation as part of CityFibre's 2.5-billion-pound-sterling Gigabit City investment program. The contract is valued at approximately CAD$13 million over 2 years.
The contract reflects the increasing strength of Lite Access' business and the Company's commitment to targeting full fibre infrastructure builds in this sector. Lite Access continues to expand it construction service capabilities and innovative technologies to its clients, specifically with respect to quality and efficiency while maintaining its commitment to safety and compliance.
Richard Thorpe, Chief Delivery Officer at CityFibre, said, "Lite Access represents a refreshing addition to our supply chain. With vision, continuous development and innovative technology and new equipment, Lite Access' primary and sole focus is the deployment of fibre. Their leadership and office staff are totally committed to 100% fibre delivery and are not burdened with the distractions that come with dealing with multiple utilities. Lite Access' engaging approach in managing the interests of CityFibre, the local community and the representing authorities mitigates the impact on residents."
James Thomas, Director of Supply Chain at CityFibre, commented, "Lite Access has proven to have the right blend of experience and expertise to support our Gigabit City Investment Programme. We are delighted to be awarding them this additional contract as we accelerate and expand the build of our full fibre networks."
Carlo Shimoon, President & CEO of Lite Access, stated, "This award marks another important achievement for our Company in the UK and specifically with CityFibre. As full fibre is rolled out to more towns and cities across the UK, it will be beneficial to be able to put our sizeable investment in specialized equipment and training to use on a larger scale."
CityFibre is the UK's third national digital infrastructure platform and already has existing networks in more than 60 towns and cities. CityFibre is investing pounds sterling2.5 billion in its Gigabit City Investment Programme which aims to reach more than five million homes, over 20% of the UK market, by the end of 2025.
About Lite Access
Lite Access Technologies Inc. is a world leader in the use of innovative and proven micro/narrow trenching technologies, alternate methods of deployment and specialist products which transform the cost the network deployment for telecommunications operators.