Demand for upgraded networks and "the explosion of all things digital" were two of the main drivers of Alcatel-Lucent's (NYSE: ALU) growth in 2010, CEO Ben Verwaayen said in an interview with CNBC on Monday. The company expects a 1 to 5 percent growth in profits this year and sees that growth continuing in 2011.
Verwaayen was sounding an optimistic note amid analyst predictions that Alcatel-Lucent will need a cash infusion of EUR 800 million ($1.04 billion) to EUR 1.5 billion ($1.96 billion) next year, CNBC.com reported. While admitting that business was "flatish" in the EU, he said that operations in the United States and Asia are doing well.
The EU's shaky economy does weigh on his mind, though. Verwaayen said it was important to keep "the momentum of Europe" going and that cooperation between EU countries was important.
For more:
- see the CNBC.com story
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