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Verizon In $1.05 Bln 3-yrs Purchase Deal With Corning For Optical Solutions

Verizon Communications Inc. (VZ) announced a three-year minimum purchase agreement with Corning Inc. (GLW) to provide fiber optic cable and associated hardware for Verizon to ensure critical coverage and capacity for its nationwide wireless broadband network.

The agreement calls for Corning to provide and Verizon to purchase up to 20 million kilometers (12.4 million miles) of optical fiber each year from 2018 through 2020, with a minimum purchase commitment of $1.05 billion.

by RTTNews Staff Writer

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