- Vecima partners with MARA Technologies USA to manufacture
Fiber-to-the-Premises (FTTP) Optical Line Terminals (OLTs) at its
Holly, Michigan facility
- The partnership supports U.S. job growth, employing
approximately 100 skilled workers focused on the Vecima
program
- Critical milestone meets Buy America requirements for use of
Broadband Equity, Access, and Development (BEAD) Program
funding
Today, Vecima Networks Inc. (TSX: VCM) announced selection of a
U.S. manufacturer for certain Entra® Fiber Access Products. Vecima
has entered into an agreement with MARA Technologies USA, Inc., a
subsidiary of Invotek Group Inc. (Invotek), to manufacture Vecima’s
SF-4X Optical Line Terminals (OLTs) in its Holly, Michigan
facility. As previously announced, Vecima intends to expand
manufacturing into the U.S. for specific products in its Entra
portfolio to meet the proposed Build America, Buy America (BABA)
requirements under the Broadband Equity, Access, and Deployment
(BEAD) Program, one of the programs established under the
Infrastructure Investment & Jobs Act (IIJA).
As a part of its partnership with Vecima, MARA Technologies USA
expects to add approximately 100 new U.S.-based workers. “More
good-paying manufacturing jobs are coming to mid-Michigan! It is
great to see Vecima Networks and MARA Technologies USA expand and
hire new skilled workers in Holly,” said Michigan District 8
Congressman Dan Kildee. “New laws like the Bipartisan
Infrastructure Law are boosting American manufacturing and
expanding access to high-speed broadband internet.”
“We’re proud that Michigan is playing an important role in
bringing high-speed broadband to people all over the United States,
providing opportunity for people both in our state and across
America,” said state Representative Mike Mueller of Michigan’s 72nd
District. “In Holly and across Michigan, we’re creating jobs that
are making our communities and families stronger. We’re happy to
welcome the growth created by Vecima and MARA Technologies
USA.”
The BEAD Program appropriates $42.45 billion for states,
territories, the District of Columbia (D.C.), and Puerto Rico
(P.R.) to utilize for broadband deployment, mapping, and adoption
projects. Expanding manufacturing of certain Vecima Entra Fiber
Access OLTs to the U.S. offers service providers an
industry-recognized OLT option for their build out of fiber
broadband networks under the BEAD program.
Vecima’s industry-leading portfolio of 10G PON products has
achieved strong market adoption, and, in March 2023, the Dell’Oro
Group named Vecima the global market share leader in both Remote
MACPHY and Remote OLT Distributed Access Architecture (DAA)
solutions.
“Our current Entra fiber and cable access platforms have been
successful with service providers due to strong technical and
commercial differentiation,” said Clay McCreery, Chief Operating
Officer of Vecima. “With MARA Technologies USA as our U.S.
manufacturing partner, our customers can deploy flexible,
interoperable OLTs as part of their efforts to deliver high-speed
fiber broadband to all communities – it’s our shared vision and the
foundation of ‘Power in connectivity.’”
“We’re excited to partner with Vecima to bring their
industry-leading SF-4X, Fiber-to-the-Premises product to our
facility in the U.S.,” said Paul LaCroix, CEO of Invotek. “With the
help of the BEAD program, Vecima and Invotek are proud to help
deliver broadband to unserved and underserved communities across
the United States. Through this agreement, MARA Technologies USA
will manufacture Vecima’s product by adding about 100 highly
skilled jobs in our state-of-the-art Holly, Michigan facility.”
“The $42.45B NTIA BEAD broadband infrastructure funding program
provides the potential to connect every American to fiber broadband
by the end of the decade,” said Gary Bolton, President and CEO,
Fiber Broadband Association. “Today’s announcement that certain
Vecima Networks’ Fiber Access OLTs will be manufactured by MARA
Technologies USA in Holly, Michigan helps ensure Build America, Buy
America (BABA) compliance required by the NTIA program. We are
excited to see that the 1,400+ fiber broadband service providers
will be able to source BABA-compliant Fiber Access products from
Vecima.”
With broad support for all next-generation cable access
technologies, high-value legacy services, and proven
industry-leading interoperability, the networks of tomorrow are
deployable today. Learn more at vecima.com/network-access.
About Invotek Group Inc.
Invotek Group Inc. supports OEMs through its manufacturing and
engineering centers in the United States, Canada, and China.
Invotek's strategy is to work with customers to develop and
engineer world-class processes that deliver optimized performance
in cost and quality. We do this through in-depth, open-book,
collaborative efforts with your design and engineering teams that
ensures we become "Your Factory". We have a long history with
broadband electronics manufacturing and over the past twenty years
have developed world-class capabilities with IoT product
development and power management systems for the Electric Vehicle
market. For more information, visit Invotek at
www.invotekgroup.com.
About Vecima Networks
Vecima Networks Inc. (TSX: VCM) is leading the global evolution
to the multi-gigabit, content-rich networks of the future. Our
talented people deliver future-ready software, services, and
integrated platforms that power broadband and video streaming
networks, monitor and manage transportation, and transform
experiences in homes, businesses, and everywhere people connect. We
help our customers evolve their networks with cloud-based solutions
that deliver groundbreaking speed, superior video quality, and
exciting new services to their subscribers. There is power in
connectivity – it enables people, businesses, and communities to
grow and thrive. Learn more at vecima.com.
Forward-Looking Statements
This news release contains “forward-looking information” within
the meaning of applicable securities laws. Forward-looking
information is generally identifiable by use of the words
“believes”, “may”, “plans”, “will”, “anticipates”, “intends”,
“could”, “estimates”, “expects”, “forecasts”, “projects” and
similar expressions, and the negative of such expressions.
Forward looking information in this news release includes, but
is not limited to, the following statements: This critical
milestone meets Buy America requirements for use of Broadband
Equity, Access, and Development (BEAD) Program funding; Vecima
intends to expand manufacturing into the U.S. for specific products
in its Entra portfolio to meet the proposed BABA requirements under
the BEAD Program; as a part of its partnership with Vecima, MARA
Technologies USA expects to add approximately 100 new U.S. based
workers; expanding manufacturing of certain Vecima Entra Fiber
Access OLTs to the U.S. provides service providers with an industry
recognized OLT option to build out their fiber broadband networks
under the BEAD program; new laws like the Bipartisan Infrastructure
Law are boosting American manufacturing and expanding access to
high-speed broadband internet.
The forward-looking statements are based on the current
expectations of the management of Vecima and are inherently subject
to uncertainties and changes in circumstances and their potential
effects and speak only as of the date of such statement. There can
be no assurance that future developments will be those that have
been anticipated. Forward-looking statements reflect material
expectations and assumptions, including, without limitation,
expectations, and assumptions relating to Vecima’s ability to
manufacture certain products in the United States.
A more complete discussion of the risks and uncertainties facing
Vecima is disclosed under the heading “Risk Factors” in the
Company’s Annual Information Form dated September 21, 2023, as well
as the Company’s continuous disclosure filings with Canadian
securities regulatory authorities available at www.sedarplus.ca.
All forward-looking information herein is qualified in its entirety
by this cautionary statement, and Vecima disclaims any obligation
to revise or update any such forward-looking information or to
publicly announce the result of any revisions to any of the
forward-looking information contained herein to reflect future
results, events, or developments, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240215808707/en/
Investor Relations : 250-881-1982, invest@vecima.com Media
Relations: bernadette.dunn@vecima.com
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