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    Global Marine Systems makes statement on Global Crossing

    News // February 15, 2002
    Following the recent announcement by Global Crossing that it has filed for Chapter XI, Mike Downie, Chief Executive Officer at cable laying company Global Marine Systems Limited has issued the following statement.

    "Global Marine is a separate entity incorporated under English Law and is not included in any of the Chapter XI filings. In this respect it is "business as usual" for Global Marine".

    "Global Marine is a successful standalone going concern with a wide portfolio of business commitments and significant long-term contracts. These contracts are held with numerous, primary industry telecommunications companies and therefore ensure our security and longevity in the industry".

    "Over the years Global Marine has introduced many new ideas and practices into the industry to the benefit of our customers. Having just completed the most successful trading year in the company's history we are strongly positioned to maintain our market-leading role through the current industry turmoil".

    "We very much look forward to continuing to provide all our customers with quality service and innovative solutions that should ensure long-term success in this industry for both our customers and ourselves".

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