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Nortel, SECI to Establish Southeast Europe Joint Venture
Nortel, SECI to Establish Southeast Europe Joint Venture.
About this update from Newterra Resources, Inc.
[{"type":"text","content":"\n\n\n\n\nJV Nortel SE will Address Regional Carrier Growth\n\nBELGRADE, Serbia, Nov. 30 /CNW/ - Nortel(x) (NYSE/TSX: NT) and Southeast\nEuropean Communications and Investments Inc. (SECI) today announced their\nintent to establish a joint venture in southeast Europe. The creation of the\njoint venture with SECI - a company that is actively involved with providing\nadvisory services in telecommunications, energy and various infrastructure\nprojects in southeast Europe - will allow Nortel to reach this rapidly growing\nregional market.\nThe proposed joint venture will bring the expertise of SECI's existing\nbroad network of representatives and contacts in southeastern Europe to drive\nsales of Nortel's next-generation Carrier Ethernet, optical, converged\nmultimedia and mobility solutions to carriers in the region. The parties have\nbeen in discussion for some time and have now summarized their intentions in a\nMemorandum of Understanding (MOU). The non-binding MOU is expected to result\nin a definitive agreement in early 2007.\nThe new company formed through the joint venture will operate under the\nname Nortel SE and will initially have offices in Bulgaria, Macedonia and\nSerbia. Nortel SE will be responsible for driving Nortel sales in Albania,\nBosnia-Herzegovina, Bulgaria, Croatia, Kosovo, Macedonia, Montenegro, Serbia\nand Slovenia. Initial plans are for Nortel SE to have a sales and marketing\nstaff of approximately 30 people.\n\"Southeastern Europe is a rapidly growing region of opportunity for\nNortel which is why we are increasing our presence here,\" said Sorin Lupu,\nleader Eastern European Markets, Nortel. \"Carriers and enterprises in\nsoutheast Europe are transforming themselves in order to meet the growing need\nfor anywhere, anytime communications. With a move towards 4G happening, and\nwith WiMAX licenses to be granted or implemented in almost all countries in\nsoutheast Europe, this new JV will help Nortel address new market\nopportunities and deliver improved support for existing customers.\"\n\"SECI management has been focusing exclusively on the southeast Europe\nregion for many years. We have established relationships throughout the region\nand have worked in an advisory capacity on several privatizations and\ntelecommunications restructuring projects,\" said Constantine Aloupis, CEO,\nSECI. \"The opportuni...