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NAPLES, Fla., Aug. 28, 2018 (GLOBE NEWSWIRE) -- FTE Networks, Inc. (NYSE American: FTNW) (“FTE” or the “Company”), a leading provider of innovative technology-oriented solutions for smart platforms, network infrastructure and intelligent buildings, today announced its subsidiary, CrossLayer, Inc., will be working with Buttcon Holdings Limited, an Ontario, Canada-based construction company, to present CrossLayer as the preferred technology partner for Buttcon’s family of businesses, marking CrossLayer’s entry into the Canadian market. Buttcon is one of the 25 largest contractors in Canada, according to On-Site magazine, Canada’s leading publication serving the commercial construction industry.
Buttcon will present CrossLayer as the preferred technology partner for Buttcon’s family of businesses, marking CrossLayer’s entry into the Canadian market. The proposal calls for CrossLayer to utilize Buttcon’s construction services for installation and deployment of fiber, conduit and equipment required to deliver on CrossLayer services in Buttcon sourced buildings in the Province of Ontario, the most populous province in the country. Buttcon will also be designated as the exclusive provider of remote/on-site service support for all commercial, institutional, industrial, and residential properties utilizing CrossLayer services in Ontario.
“I am extremely excited about partnering with Buttcon. This represents a great strategic relationship with a high-quality, customer-focused company, and our first international expansion of the CrossLayer platform,” said Michael Palleschi, President and CEO of FTE Networks. “CrossLayer’s compute-to-the-edge technology solution is rapidly gaining traction in the U.S., and we’re looking forward to expanding our footprint in the growing Ontario region. This alliance and the numerous opportunities it brings to CrossLayer will add additional buildings to the portfolio of buildings that utilize our compute to the edge technology and further strengthen our stated objectives of having at least 30 buildings on-net by year end 2018. This alliance with CrossLayer provides additional opportunities to attain our stated objectives of having at least 30 buildings on-net by year end 2018.”
“This new business relationship is not just a win-win for Buttcon and CrossLayer, but also a win-win for property owners and their tenants,” said Michael A. Butt, P.Eng., Chairman, CEO and Director of Buttcon. “The CrossLayer advanced data network is a significant differentiator for commercial property owners and developers looking to attract a dynamic workforce that requires always-on connectivity wherever they work across a campus.”
About Buttcon Limited
Buttcon Limited is a 100% employee-owned Canadian company founded in 1979. Buttcon specializes in three services: pre-construction; construction, including design build, construction management and general contracting; and facilities management.
About FTE Networks, Inc.
FTE Networks, Inc. (“FTNW”) is a leading provider of innovation technology. We enable adaptive and efficient smart network connectivity platforms, infrastructure and buildings. FTE provides end-to-end design, build, and support solutions for state-of-the-art networks, data centers, residential and commercial properties. We create transformative smart platforms and buildings. FTE’s services are predicated on smart design and consistent standards that reduce deployment costs and accelerate delivery of leading edge projects and services. The Company works with Fortune 100/500 companies, including some of the world’s leading Telecommunications and IT Services Providers as well as REITs and Media Providers.
Forward-Looking Statements
This release may contain “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “expected,” “will,” “looking forward,” and similar references to future periods. Examples of forward-looking statements in this release may include, without limitation, statements and forecasts regarding our ability to perform as anticipated in Canada, including the successful integration of our technology and services with those of Buttcon’s, the successful implementation of our strategy and our ability to realize the benefits of this strategy, including our ability to meet our previously stated guidance, and other matters that involve known or unknown performance or achievements to differ materially from results expressed or implied by this release. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and market trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risk and changes in circumstances that are difficult to predict and many of which are outside of our control. These risk factors and others are included from time to time in documents we file with the Securities and Exchange Commission, including but not limited to, our Form 10-K’s, Form 10-Q’s and Form 8-K’s. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Accordingly, you should not place undue reliance on these forward-looking statements. Any forward-looking statement made by us in this update is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, where as a result of new information, future developments or otherwise.
For more information, please contact:
Investor Contact:
Ted Haberfield
MZ Group
Phone: (760) 755-2716
Email: thaberfield@mzgroup.us
Corporate Contact:
FTE Networks, Inc.
Kirstin Gooldy
999 Vanderbilt Beach Rd., Suite 601
Naples, FL 23108
(877) 850-4308
ir@ftenet.com
Released August 28, 2018