Nortel 'still committed to Olympics' despite bankruptcy
Nortel will met its commitment to the London 2012 Olympics, despite filing for bankruptcy protection.
Mario DiMascio, Nortel's vice-president for enterprise business, northern region, said today, "Let me reassure you that our commitment to the Games as a tier one local sponsor and official Network Infrastructure Provider remains unchanged as does our commitment to all our customers."
Nortel won the 2012 Olympic Games contract to supply the entire network infrastructure for the 2012 Games in August 2008.
The telecommunications equipment maker is due to supply secure networks to connect 15,000 athletes from 205 international sporting organisations, 20,000 world-wide media, 7,000 volunteers and over nine million spectators over the two-week event.
This includes 10G metro networks, phone handsets, application software, Wide Area Networks (WANs), wireless Local Area Networks (LANs), voice, date, security and IP phones. Nortel was also expected to make a cash contribution to the London Organising Committee of the Olympic Games (LOCOG).
"The solutions we are providing for the London 2012 Olympic Games are among the most demanding communications environments in the world," said DiMascio.
But the company filed for Chapter 11 in US bankruptcy court Wednesday, putting its future stability in doubt. The supplier is likely to face a substantial reorganisation as it battles to survive.
Nortel's statement follows comments from analysts advising Nortel customers to seek out alternatives. Jack Gold of J.Gold Associates said large companies that use Nortel gear and are due for an upgrade should carefully weigh what is happening.
DiMascio said: "The Olympic Games is the ultimate demonstration of Nortel's capabilities and the value we can drive for businesses."
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