Northern Telecom Ltd has taken full control of its Spanish subsidiary, paying out a total of $1.15m to Agrom SA and Radiotronica SA for their respective 37.5% and 12.5% stakes Northern Telecom had previously held a 50% stake. The president of Northern Telecom Espana, Jean Monty said This move confirms the enormous interest the corporation has in Spain, which we believe is a key market, providing a platform for development and itself as one of Telefonica’s most important suppliers. Northern Telecom Espana is currently Telefonica de Espana SA’s sole supplier of data transmission equipment for its Red Uno network. The Spanish arm has 50 staff. Its main businesses are transmission, data, speech, communications and Integrated Business Distribution Network. Its most important customers are La Caixa, Iberia, the Reina Sofia National Museum & Arts Centre and Renfe, the national railway network. Sales in 1993 were 25% up on the previous year at $31.81m.
