25 Apr 2019
Plenary is pleased to announce that it has further expanded its North American footprint with an investment in Vancouver-based Canadian Towers and Fiber Optics Inc. (CT&FO), a company providing fiber optic solutions for Mexico’s developing telecommunications sector.
“Our investment in CT&FO demonstrates Plenary’s commitment to growing our expertise and entering new sectors and markets where we see potential,” said Brian Budden, President and CEO of Plenary. “We look forward to providing our guidance and support to CT&FO’s experienced management team as we bring fiber optic capabilities to one of the fastest growing telecommunications markets in the world.”
To date, CT&FO has successfully installed more than 500 kilometres of fiber optic cable across five cities in the Bajio area of Central Mexico, including Queretaro, Leon, Guadalajara, Irapuato and Aguascalientes. With one full length long-term dark fiber lease agreement already in place, CT&FO is currently working to lease remaining capacity, expand the network into other regions within Mexico, and advance into the tower and microcell segments.
In addition to promoting the expansion of telecommunications capacity, the Mexican government has also announced a six-year national infrastructure plan that contemplates new rail developments, modernization of existing roads, construction of new roads, and construction and rehabilitation of hospitals and schools across the country.
Brian Budden added, “Beyond the fiber-related business opportunities, our investment in CT&FO positions us well as the Mexican government looks to address the country’s growing infrastructure needs.”
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