CHARLTON, Mass., Feb. 2 /PRNewswire/ -- FiberCore, Inc. (Nasdaq: FBCE), a
leading manufacturer and global supplier of optical fiber and preform for the
telecommunication and data communications markets, today announced that it is
moving forward with its previously announced plans to build and operate
facilities in North America in order to address this key market.
As part of its search for a location in North America, FiberCore recently
optioned land in North Carolina. The state of North Carolina has, subject to
various terms and conditions, proposed a land grant, tax credits, and other
benefits with an estimated total value of approximately $5.7 million if the
Company were to build its facility in North Carolina.
Dr. Mohd A. Aslami, President and CEO commented, "We remain committed to
expanding our operations into North America. While we are considering the
proposal, we are exploring financing options to support our expansion and
would need to have a financing plan in place before making a final decision."
FiberCore, Inc. develops, manufactures and markets single-mode and
multimode optical fiber preforms and optical fiber for the telecommunications
and data communications markets. In addition to its standard multimode and
single-mode fiber, FiberCore also offers various grades of fiber for use in
laser-based systems, to help guarantee high bandwidths and to suit the needs
of Feeder Loop, Fiber-to-the Curb, Fiber-to-the Home and Fiber-to-the Desk
applications. Manufacturing facilities are presently located in Jena, Germany
and Campinas, Brazil.
For more information about the company, its products, or shareholder
information please visit our Website at: http://www.FiberCoreUSA.com or contact us
at: Phone -- 508-248-3900 or by FAX -- 508-248-5588 or E-Mail
FiberCore@aol.com.
Except for the historical matters discussed above, the statements in this
press release are forward looking and are made pursuant to the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995. They are
based on the Company's current expectations and are subject to a number of
risks and uncertainties. Actual results may differ materially from those
projected as a result of certain general economic and business conditions;
loss of market share through competition; introduction of competing products
by other companies; changes in Industry capacity; pressure on prices from
competition or from purchasers of the Company's products; availability of
qualified personnel; the delivery of an ability to commission new equipment as
scheduled; ability to obtain required financing; dependence on a limited
number of raw material suppliers; the loss of any significant customers; and
other factors detailed from time to time in the Company's filings with the
Securities and Exchange Commission.
SOURCE FiberCore, Inc.
 back to top
Related links:
http://www.FiberCoreUSA.com
CONTACT:
Dr. Mohd A. Aslami, President-CEO, or Steven
Phillips, CFO, both of FiberCore, Inc., 508-248-3900; or General,
Alison Ziegler, Analysts, Christie Mazurek, Media, Marty Gitlin,
of The Financial Relations Board-BSMG, 212-661-8030
|
