FTE Networks Awarded Contract
Valued up to $1.5 Million by a Fortune 2016 Global 500 Telecom
Company
One Year Project in Midwest Will Build Out Data Network
NAPLES, Fla. (June 13, 2017) FTE Networks, Inc. (OTCQX:
FTNW) (FTE or the Company), a leading network infrastructure
solutions provider in the technology and communications industries,
today announced that it has been awarded a new contract by a
Fortune 2016 Global 500 telecom company for Inside Plant work. This
contract with a major telecommunications network integrator, is
potentially valued up to $1.5 million over the next twelve months.
Work is expected to commence in the second half of 2017.
According to Michael Palleschi, President and Chief Executive
Officer of FTE, the project, at a major single-tenant commercial
facility in the Midwest, includes significant cabling work and
installation of distributed antenna systems (DAS), an in-building
wireless solution.
The growth momentum that FTE is experiencing in our Inside Plant
work reflects our ability to consistently deliver high-quality work
throughout all aspects of a project, Mr. Palleschi said. Our
services and deployment techniques represent a clear differentiator
for us in the marketplace, and were seeing continued strong
interest in our offering among top-tier telecom companies. This
particular client is a Fortune 2016 Global 500 company weve worked
with previously. They chose to work with us again because of their
first-hand experience of the peerless quality of our services, our
performance, our transparency and our commitment to deadlines.
About FTE Networks, Inc.
FTE Networks, Inc. (OTCQX:
FTNW) is a leading network infrastructure solutions provider to
the technology and communications sectors. FTE's three
complementary businesses are: FTE Networks Services (network
infrastructure solutions); CrossLayer, Inc. (managed network
services with first-of-its-kind advanced network and cloud platform
and technology), and Benchmark Builders, Inc. (construction
management), which provides end-to-end design, build and support
solutions for state-of-the-art networks and commercial properties
to create the most transformative smart platforms and buildings.
FTEs businesses are predicated on smart design and consistent
standards that reduce deployment costs and accelerate delivery of
innovative projects and services. The company works with Fortune
100/500 companies, including some of the world's leading
communications services providers FTE Networks and its subsidiaries
operate 8 Lines of Business, including Data Center Infrastructure,
Fiber Optics, Wireless Integration, Network Engineering, Internet
Service Provider, Construction Management, General Contracting, and
Pre-Construction Services. With approximately 200+ employees, FTE
and its entities have operations in 17 states. For more
information, please visit www.ftenet.com.
Forward-Looking Statements
This release may contain forward-looking statements, relating to
the business of FTE, within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Statements other than historical facts are forward-looking
statements, which can be identified by the use of words such as:
"potential, believes," "expects," "opportunity," "strategy,"
"upcoming," "intend," "plan" and similar expressions and/or
references to future periods.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based only on
FTE's current expectations, beliefs and assumptions regarding
future developments and their potential effects on FTE. These
statements involve risks and uncertainties that may cause actual
results to differ materially from those anticipated, believed,
estimated, or expected. These risks and uncertainties are described
in detail in our filings with the Securities and Exchange
Commission. Furthermore, there is no assurance that future
developments affecting FTE will be those anticipated by FTE. FTE
undertakes no obligation to publicly update or revise any
forward-looking statements, whether written or oral, that may be
made from time-to-time, whether as a result of new information,
future events, or otherwise, except as required under applicable
securities laws.
Media and Investor Relations:
FTE Networks, Inc.
999 Vanderbilt Beach Rd., Suite 601
Naples, FL 23108
(877) 850-4308
ir@ftenet.com
OTCQX: FTNW