Feeds

PSINet Europe moves to calm fears

Better late than never

  • alert
  • submit to reddit

The essential guide to IT transformation

Six days after its US parent filed for Chapter 11 bankruptcy protection, PSINet Europe has finally issued a statement to reassure the industry about its future.

Although last Friday's statement from PSINet Inc. made it clear that Europe, Latin America and Asia were not included in the bankruptcy protection, some customers and industry watchers felt it left a question mark over the future of PSINet's other operations.

What they wanted was a clear and strong signal from PSINet's non-US operations that their future was assured.

The absence of any formal statement for so long has only fuelled the anxiety felt by some.

No matter. PSINet Europe it claims it has "sufficient resources to continue to invest in the growth of the European business".

In a statement Scott Arnell, President of PSINet Europe, said: "Over the coming weeks, we will be refocusing our pan-European business by increasing the asset utilisation of both our Hosting Centres and our fibre network; as well as focusing our resources on what is needed to meet the requirements of our customers. We expect that this strategic review will be completed rapidly and the actions reflecting our conclusions will follow shortly thereafter.

"Financially we believe we are positioned with sufficient resources to invest in the company's future, to grow our customer base and to continue serving our clients. The strong support of our entire European management team and staff has given us great stability, and will enable us to exploit the opportunities and meet the challenges that lie ahead of us. I am confident that, with their support, we will further improve our position in the European market." ®

Related Stories

PSINet UK promises it's still alive
PSINet files Chapter 11

5 things you didn’t know about cloud backup

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws
Yep, that one place you'd hoped you wouldn't find 'em
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
prev story

Whitepapers

Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Backing up distributed data
Eliminating the redundant use of bandwidth and storage capacity and application consolidation in the modern data center.
The essential guide to IT transformation
ServiceNow discusses three IT transformations that can help CIOs automate IT services to transform IT and the enterprise
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.