Worldwide Fiber Inc. Selects Tyco Submarine Systems Ltd. as Supplier for Undersea Cable System Network.VANCOUVER, British Columbia--(BUSINESS WIRE)--April 20, 1999-- Hibernia, a 12,200 Kilometer Trans-Atlantic Project, will Connect North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Europe Worldwide Fiber (WFI WFI Wide Field Imager WFI Water For Injection WFI Wireless Facilities Inc. WFI Workforce Florida, Inc. WFI WaterFurnace International WFI Wraparound Fidelity Index WFI Water For Irrigation WFI Washington Food Industry (Olympia, WA) ), a facilities based provider of technologically advanced, high-bandwidth fiber optic communications infrastructure, today announced that it has selected Tyco Submarine Systems Ltd. (TSSL TSSL Tyco Submarine Systems Ltd. ) as the supplier for WFI's transatlantic undersea fiber-optic cable system named "Hibernia." A funded "instruction to proceed" (ITP ITP - Intent to Package ) has been executed and a definitive supply contract agreement is expected to be concluded within sixty days. During this period, WFI also anticipates concluding; definitive agreements with equity participants in North America and Europe; agreements reference an operating relationship with a backhaul provider in Europe, and initial commitments for project finance for its transatlantic development. The undersea cable system will be installed by TSSL and will have landing points in Halifax, Canada; Boston, USA; Stranraer, Scotland; Dublin, Ireland; and Liverpool, England and will interconnect with WFI's existing North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. will represent the first transatlantic subsea Subsea is a general term frequently used to refer to equipment, technology, and methods employed to explore, drill, and develop oil and gas fields that exist below the ocean floors. This may be in "shallow" or "deepwater". rn each fiber pair. This project will achieve European connectivity for the WFI's North American networkess with vision and the commitment to provide thequired to develop a successful global network. We truly look forward to working closely with them on Hibernia and in the future." "The company selected TSSL after on. We look forward to the opportunity of workifor the installation and maintenance of undersedersea fiber optic networks, in excess of 350,000 kilometers of fiber optic cable Noun 1. fiber optic cable - a cable made of optical fibers that can transmit large amounts of information at the speed of light fibre optic cable transmission line, cable, line - a conductor for transmitting electrical or optical signals or electric power connecting over 100 countries. Over the last 12 years, Worldwide Fiber Inc. has designed, engineered, developed and constructed communications networks first as the Ledcor Industries Ltd. telecommunications division and, since May 1998, as a separate subsidiary. WFI is currently developing an 11,000-mile North American fiber optic communications infrastructure (2,700 miles existing), and expects to complete an additional 4,500 route miles The number of miles that are spanned by a telecommunications network. It does not include combined wire mileage due to multiple wires or fibers within a single cable or by overlapping segments, just the total geographic distance between cities or other terminal points. in 1999. The Company and its subsidiaries, including Worldwide Fiber USA of Denver, Colorado, are building the Network to meet the facilities requirements of communications carriers, internet service providers Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. , and corporations with enterprise network needs and to satisfy the increasing demand generated by high-bandwidth data, voice and video communications. Hibernia will now provide to WFI customers, the connectivity to Europe by transoceanic, subsea fiber optic networks. Statements made by Worldwide Fiber Inc. may include those of a forward-looking nature. Actual results may differ materially from those projected in forward-looking statements. Large-scale transoceanic projects entail a level of risk. Worldwide Fiber has reviewed the risks on the Hibernia Project. Principal identified risks include, but are not limited to: a material change in the capacity supply; demand ratio; activities of competitors which could limit the market share sought by Hibernia; price pressures which could squeeze profitability; supply risk as a result of the highly concentrated nature of the cable manufacturing and installation industry; weather conditions and other physical conditions which could delay construction; licensing/permitting delays or denial by regulatory authorities; inability to obtain sufficient pre-construction sales commitments and post-consnformation concerning these and other important factors can be found within the Company's filings with the Securities & Exchange Commission. Statements in this release mue information on TSSL or Tyco International For the unrelated division of Mattel, see . Tyco International Ltd. NYSE: TYC is a diversified manufacturing conglomerate incorporated in Bermuda, with United States operational headquarters in New Jersey. pleaONTACT: Worldwide Fiber Inc. La with Hyperlinks to yourse Triple Point's FRANKLIN 2000 to Manage Natural Gas and Electricity Trading Operations Business & Technology Editors WESTPORT, Conn.--(BUSINESS WIRE)--April 20, 1999-- Leading Provider of Integrated Trading Business Systems Wins Major New Power Customers Triple Point Technology, Inc. (www.tpt.com), the leading global supplier of commodities trading software, systems and services, today announced that Amerada Hess Corporation The Hess Corporation (NYSE: HES) is an integrated oil company based in New York City. The company changed its name from Amerada Hess as of May 8, 2006. The company explores, produces, transports, and refines oil. and Hess Energy Trading Company (HETCO) have licensed Triple Point's FRANKLIN 2000(TM) power trading business system. FRANKLIN 2000 is the first comprehensive, fully integrated power trading business system. It is ideally suited to meet the high-volume demands of today's fast-moving electricity and natural gas markets. Triple Point is the first company with the ability to offer integrated support for the oil, gas and power markets through its oil-based TEMPEST 2000(TM) and power-based FRANKLIN 2000 products. Amerada Hess, an independent international energy company and one of the world's largest corporations, has licensed FRANKLIN 2000 to support its physical natural gas and electricity trading. HETCO, a sophisticated market maker and speculative trader partially owned by Amerada Hess, will utilize the product to support its current physical and paper natural gas trading, and plans to use FRANKLIN 2000 when it enters the electricity trading market. "Amerada Hess and HETCO are huge players in the energy market, and their selection of FRANKLIN 2000 is the latest evidence of the superior trading business solution Triple Point is providing for the power industry," said Peter Armstrong, Principal and Director of Business Development, Triple Point Technology. "Because both companies are already using Triple Point's flagship TEMPEST 2000 system for the oil market, FRANKLIN 2000 is a perfect fit. These systems work seamlessly together and offer fully integrated consolidated risk and credit reporting for oil and power trading." Created exclusively for power trading, FRANKLIN 2000 is the first fully integrated, Windows-based, client/server, high-volume power trading business system specifically developed for the electricity and natural gas markets. Designed to support both physical (actual) and paper (derivatives, futures, options, swaps) commodities trading, it provides real-time front-, middle- and back-office functionality, enabling traders and executives to measure, monitor and control all aspects of trading transactions and financial operations. Hourly pricing, trade processing, risk management, credit and client exposure monitoring, profit and loss reporting, physical scheduling and financial settlement are just a few of FRANKLIN 2000's many features. "We went through a lengthy and thorough selection process in order to choose the trading system The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. that would best fit HETCO's needs," said Steve Semlitz, Managing Director, HETCO. "The ability to integrate FRANKLIN with our oil trading system already in place, along with Triple Point's solid reputation for developing complete business systems, were big factors in our decision." FRANKLIN 2000 is designed to not only facilitate and conduct trades, but to manage an organization's entire trading business. Its scalable, flexible functionality allows organizations to master the complexity, speed, and dynamic properties of modern power markets. "FRANKLIN 2000 will be to power trading what TEMPEST 2000 has become to oil trading: the industry leader and the standard for excellence," said Armstrong. "Today's announcement provides tangible proof of Triple Point 's marketplace momentum. Our plan is to offer leading-edge systems and services for the full spectrum of hard and soft commodities markets, and the early adoption of FRANKLIN 2000 by these leading players shows that we are definitely moving in the right direction." About FRANKLIN 2000 FRANKLIN 2000 establishes an integrated, real-time trading environment built around a central database of reference and transactional data. It allows trading information to be utilized throughout the different functional areas of the enterprise as soon as a trader enters it. As a result, costs are lowered and the accuracy and availability of trading information are greatly increased. FRANKLIN 2000 is the only fully integrated, multi-tiered, high-volume power trading software to offer: - straight-through processing straight-through processing The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions. for logistical flexibility, from pre-deal analysis all the way through to financial settlement - seamless integration An addition of a new application, routine or device that works smoothly with the existing system. It implies that the new feature or program can be installed and used without problems. Contrast with "transparent," which implies that there is no discernible change after installation. , for aggregated reporting and risk management, with the industry standard crude oil and petroleum products trading system, TEMPEST 2000 - an open architecture designed to be enhanced, customized, and integrated into enterprise-wide applications by Triple Point's full-service Business Solutions Group FRANKLIN 2000 builds on the foundation of Triple Point's established track record in power markets. The company also offers POWER Savant sa·vant n. 1. A learned person; a scholar. 2. An idiot savant. [French, learned, savant, from Old French, present participle of savoir, to know (TM), a comprehensive power risk management system enabling traders to achieve a lower risk transaction management strategy, including transactions involving cross commodity risks. POWER Savant was originally designed and developed for the Tennessee Valley Authority Tennessee Valley Authority (TVA), independent U.S. government corporate agency, created in 1933 by act of Congress; it is responsible for the integrated development of the Tennessee River basin. (TVA TVA: see Tennessee Valley Authority. ), the nation's largest power corporation and a current production user of the risk management system. About Triple Point Technology Triple Point Technology, Inc. (www.tpt.com) provides fully integrated commodities trading business systems to major oil companies, investment banks The following is a list of investment banks Financial conglomerates Large financial-services conglomerates combine commercial banking and investment banking, and sometimes insurance. , utilities, shipping concerns, power traders and energy companies, metals traders and other global trading organizations. The company leverages technical, business, and trading expertise to help customers reengineer their business processes and develop efficient commodities trading business systems. Founded in 1993, Triple Point is headquartered in Westport, Connecticut Westport is a coastal town in Fairfield County, Connecticut, in the United States. The 2004 population estimate was 26,644. The town is as affluent as other expensive Fairfield County towns, boasting a per capita income of more than $70,000. and operates satellite offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Houston, London, and Singapore. Its clients include such leading worldwide trading enterprises as ARCO Aluminum, Koch Industries Koch Industries, Inc. (pronounced "koke") is a private corporation based in Wichita, Kansas. According to Forbes Magazine, it is the largest privately owned company in the world by revenue (surpassing Cargill in 2005 with the acquisition of Georgia-Pacific), with subsidiaries , Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. , Noranda Aluminum, the Tennessee Valley Authority (TVA), Trafigura, Williams Energy, Rudolf Wolff, and YPF YPF Yacimientos Petrolíferos Fiscales (Argentina)YPF Esquimalt, British Columbia, Canada (Airport Code) YPF Young Peoples Fellowship S.A. All trademarks are the property of their respective owners. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion