CALGARY, Feb. 14, 2012 /CNW/ - Axia NetMedia Corporation (Axia) today announced that its French-based company Covage has been chosen by the Community of Grand Poitiers to sell next generation network (NGN) services for a period of 20 years. Network construction will begin in the middle of this calendar year with the network being fully activated by late 2013. Covage's total investment is projected to be €6.7 million.
The Grand Poitiers Network, in the west of France, will include 150 kilometres of fibre of which 50% already exists and will service over 3,000 enterprises in 40 business parks and 300 public service sites including health facilities, secondary schools and all the telephone exchanges of France Telecom. Covage will also sell NGN services to retail service providers (RSPs) in the area. Covage expects initial sales to begin during the first half of calendar 2013.
Jean-Michel Soulier, President of Covage commented, "Covage is pleased to have won this opportunity to sell services in Grand Poitiers and participate in this region's economic development. Already ten RSPs have expressed their intention to use our fibre network and we anticipate strong demand for our competitive service offerings that will benefit the end users in this region."
With the addition of Grand Poitiers, Covage's nationwide fibre infrastructure network will now include 17 regional network segments and a 3,700 km national fibre network backbone.
Axia sells services over fibre optic communications infrastructure in jurisdictions that have implemented the Axia NGN Solution. To date, Axia has networks in Alberta, France, Singapore, Spain and Massachusetts. Axia trades on the TSX under the symbol "AXX".
This News Release contains forward-looking statements, including, without limitation, statements containing the words "should", "believe", "anticipate", "may", "plan", "will", "continue", "intend", "expect", "estimate" and other similar expressions which constitute "forward-looking information" within the meaning of applicable Canadian securities laws. These statements are based on our current expectations, estimates, forecasts and assumptions about the operating environment, economies and markets in which we operate and are subject to important assumptions, risks and uncertainties that are difficult to predict. Examples of these statements would include those where Axia forecasts its success and timing in winning new NGN business, the timing of completion and estimated total costs of our networks, the revenues and operating costs associated with these networks over time, and Axia's ability to generate future cash flows and avail itself of other financing alternatives given current market conditions. The assumptions, risks and uncertainties that could cause actual results to differ materially from the forward-looking information, include, but are not limited to, changes in customer markets, changes in demand for our services, our inability to deliver services in a timely and cost efficient manner, technological change, general economic conditions and other risks detailed from time to time in our ongoing filings with the Canadian securities regulatory authorities, including those in our Annual Information Form, which filings can be found at www.sedar.com. Given these assumptions, risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by applicable securities laws, we undertake no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise.
For further information:
please visit Axia's website at www.axia.com, or contact:
VP, Investor Relations and Communications
Axia NetMedia Corporation