FTE Networks Is Awarded New Multi-Year Service Contract in Five Markets

FTE Networks Inc (NYSEA:FTNW), a leading provider of innovative technology-oriented solutions for smart platforms, network infrastructure and intelligent buildings announced that the company’s infrastructure segment has been awarded a contract expanding its Inside Plant (ISP) line of business footprint in five markets.

As quoted in the press release:

FTE was awarded the contract by a Fortune 100 global telecommunications company due to FTE’s consistent high-quality work performance.

“This contract is significant because it represents an increase in the scope and size of work performed for this customer,” said Mr. Anthony Sirotka, Chief Administrative Officer and Head of FTE’s Infrastructure Segment. “We are excited to again be rewarded for our excellent service with some of the largest telecommunications carriers in the industry.”

“We are pleased to announce this new multi-year, multi-million dollar expansion with our globally recognized strategic partner and further strengthen our presence in the markets we serve,” said Mr. Michael Palleschi, Chairman and Chief Executive Officer of FTE. “Our ISP business is high-margin in nature and the relationships we build and maintain with these customers will serve to facilitate the growth of all segments of our business.”

The commercial-based projects will deliver critical state-of-the-art customer driven infrastructure services. Under the terms of the Master Service Agreement, FTE will manage five turf markets and perform EF&I (engineer, furnish, install) services. The markets include the states of Kansas, Missouri, Arkansas, Oklahoma and Texas. The engagement is slated to begin in July and extend through the end of 2019.

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