|
Corporate Information
 |
 |
Your Location: Home / News & Events / News Releases
December 31, 2004
Nortel and its Employees Pledge Red Cross and UNICEF Donations to Support Earthquake and Tsunami Disaster Relief
TORONTO – Nortel* [NYSE/TSX: NT] announced today that the Company and its employees will provide US$700,000 in funds to assist disaster relief in areas affected by the recent earthquake and tsunami in Asia and the east coast of Africa. The funds provided by Nortel and its employees will be directed to the Red Cross and UNICEF to support them in their efforts to provide humanitarian aid and rebuilding assistance to the people in the effected areas.
“Our thoughts and heartfelt condolences go out to the tens of thousands of people impacted by this tragedy directly and their grieving families and friends around the world,” said Bill Owens, president and chief executive officer, Nortel. “On a daily basis, we are a global company committed to enhancing the human experience and solving some of the world’s greatest challenges through our technologies. With a firm commitment to Asia and a strong presence in the region that includes India, China, Japan, Korea and dozens of other Asia Pacific countries, Nortel has a heritage, responsibility and privilege of helping where we have customers, employees and partners. So today we are proud to join the international efforts to support those working tirelessly to deliver the most basic needs to the most vulnerable.” Nortel will provide a US$350,000 corporate donation to the Red Cross and UNICEF and will ask Nortel employees globally to provide matching donations to double the relief funds. The Company has initiated similar successful employee programs previously to support disaster relief activities. In addition, Nortel is working with local agencies and governments in the effected areas to identify what other on the ground support the company can offer through deployment of its networking technologies and the efforts of it local staff to assist in emergency communications and rebuilding requirements. About Nortel Nortel is a recognized leader in delivering communications capabilities that enhance the human experience, ignite and power global commerce, and secure and protect the world’s most critical information. Serving both service provider and enterprise customers, Nortel delivers innovative technology solutions encompassing end-to-end broadband, Voice over IP, multimedia services and applications, and wireless broadband designed to help people solve the world’s greatest challenges. Nortel does business in more than 150 countries. For more information, visit Nortel on the Web at www.nortel.com. For the latest Nortel news, visit www.nortel.com/news. Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors which could cause results or events to differ from current expectations include, among other things: the outcome of Nortel’s independent review and planned restatement or revisions of its previously announced or filed financial results; the resolution of the accounting issues announced on November 11, 2004, including the outcome of discussions with the United States Securities and Exchange Commission (SEC); the impact of the management changes announced on April 28, 2004 and August 19, 2004; the impact of the inability to meet Nortel’s filing obligations on support facilities and public debt obligations; any potential delisting or suspension of the Company’s or NNL’s securities; the adverse resolution of litigation, investigations, intellectual property disputes and similar matters; the sufficiency of Nortel’s restructuring activities, including the work plan announced on August 19, 2004 as updated on September 30, 2004, including the potential for higher actual costs to be incurred in connection with restructuring actions compared to the estimated costs of such actions; cautious or reduced spending by Nortel’s customers; fluctuations in Nortel’s operating results and general industry, economic and market conditions and growth rates; the communication by Nortel’s auditors of the existence of material weaknesses in internal controls; Nortel’s ability to recruit and retain qualified employees; fluctuations in Nortel’s cash flow, level of outstanding debt and current debt ratings; the use of cash collateral to support Nortel’s normal course business activities; the dependence on Nortel’s subsidiaries for funding; the impact of Nortel’s defined benefit plans and deferred tax assets on results of operations and Nortel’s cash flows; Nortel’s dependence on new product development and its ability to predict market demand for particular products; Nortel’s ability to integrate the operations and technologies of acquired businesses in an effective manner; the impact of rapid technological and market change; the impact of price and product competition; barriers to international growth and global economic conditions, particularly in emerging markets and including interest rate and currency exchange rate fluctuations; the impact of rationalization in the telecommunications industry; changes in regulation of the Internet; the impact of the credit risks of Nortel’s customers and the impact of customer financing and commitments; stock market volatility generally and as a result of acceleration of the settlement date or early settlement of Nortel’s purchase contracts; the impact of Nortel’s supply and outsourcing contracts that contain delivery and installation provisions, which, if not met, could result in the payment of substantial penalties or liquidated damages; and the future success of Nortel’s strategic alliances. For additional information with respect to certain of these and other factors, see the most recent Form 10-Q/A and Form 10-K/A filed by Nortel with the SEC. Unless otherwise required by applicable securities laws, Nortel disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. *Nortel, the Nortel logo and the Globemark are trademarks of Nortel Networks. Contact for Press and Analysts:Tina Warren
Nortel
(905) 863-4702
tinawarr@nortel.com
Additional Media & Analyst Contacts
