CHARLTON, Mass., Feb. 20 /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
closed on a Euro 27.5 million (US$25 million) financing. This completes the
financing of its new $25 million facility in Jena, Germany.
The financing consortium was led by Sparkasse Bank of Jena, Germany and
included DKB Bank of Leipzig, Germany and AVV Thuringen GmbH of Jena, Germany.
The financing package included approximately $11 million in loans and leases,
and $8 million in grants from agencies of the German government. FiberCore
contributed the balance of the funds.
"The completion of this financing is a major milestone for FiberCore,"
said Dr. Mohd A. Aslami, President and CEO. "We are currently on target to
complete the new Jena facility by the end of 2001. A major portion of this
expansion deals with multimode capacity, which is expected to grow to over
500,000 kms in 2002. As our Jena facility currently supplies essentially all
of the Company's multimode fiber customers worldwide, this expansion is key to
our strategy to build market share to help satisfy continued strong industry
demand."
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:
Mohd Aslami, CEO & President, or Steven
Phillips, CFO, of FiberCore, Inc., 508-248-3900, or General
Info., Alison Ziegler, Analyst Info., Christie Mazurek, or Media
Info., Marty Gitlin, of The Financial Relations Board/BSMG,
212-661-8030
|
