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TAHLEQUAH, OK - The Cherokee Nation, Oklahoma, is considering making a larger investment into its technology and manufacturing corporate entity, Cherokee Nation Industries. CNI’s sales grew by 100% in fiscal year 2000, and sales have seen further double-digit increases through 2001. CNI has surpassed last year’s sales figures through just the first nine months of fiscal year 2001. CNI has thrived by supplying industrial and fiber optic cable to companies like Boeing and Southwestern Bell.

In fact, CNI is one of just four businesses to win Southwestern Bell’s Gold Award for each of the past two years. Likewise, Boeing has honored CNI’s wire harness and cable crew for excellence.

In the wake of the current unexpected downturn in the telecommunications industry, CNI is taking the opportunity to reposition itself. To continue working with industry leaders and to maximize growth in this fast-paced industry, the Cherokee Nation is considering a proposal that would infuse CNI with $2 million of short term financing. CNI anticipates being able to use the money to continue it’s strong growth and repay the Cherokee Nation's investment with interest within the next 12 to 36 months.

"I’ve never seen more dedicated and loyal employees than the ones at CNI", said Chad Smith, Principal Chief of the Cherokee Nation. "They are the strength of the business and the strength of the Cherokee Nation."