Business

Alcatel-Lucent inks deal with China Huaxin

Posted February 06, 2014 6:24 am

Associated Press

PARIS — French-U.S. telecommunications equipment company Alcatel-Lucent SA says it is in talks to sell its business that deals with corporate clients to China Huaxin for around $362 million. The company has local operations in Lisle and Naperville.

The business, known as Enterprise, has nearly 3,000 employees. The deal is expected to close in the third quarter.

The news comes as the company reported further losses amid more restructuring and flat or falling sales in much of the world.

Alcatel-Lucent, which has lost money nearly every year since its 2006 creation, reported a net loss of 1.3 billion euros in 2013, against 2 billion in 2012.

CEO Michel Combes said Thursday that the company is “on track” to achieve revenue and cash flow targets by 2015, but made no forecast on when the group would turn a profit.

Article Comments

Article Categories
Business Communities Lisle Naperville

Article Comments

Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.