CHARLTON, Mass., Feb. 22 /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 has
finalized a 5-year contract for the supply of glass tubes, a key raw material
for the Company.
Dr. Mohd A. Aslami, President and CEO commented, "This contract helps to
ensure that FiberCore will have sufficient supply of glass tubes to meet our
existing customer commitments for optical fiber. Quantities under this
contract, together with our other glass resources, will fulfill most of our
current needs. However, in order to satisfy future expected customer demand
and support our expected ramp up in optical fiber manufacturing capacity, we
are actively working to secure additional glass beyond the quantities provided
for under this contract."
Under the contract, the supply of glass to FiberCore increases by over
50% in 2002, in line with the Company's existing commitments from its
customers. Quantities for 2003 will be set within the next several months and
are expected to be significantly greater than 2002 quantities. Glass
quantities for 2004 and 2005 will be set at a future date.
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:
Sales: sales@FiberCoreUSA.com
Investor Relations: investor_relations@FiberCoreUSA.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.
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Related links:
http://www.FiberCoreUSA.com
CONTACT:
Dr. Mohd A. Aslami, President and CEO, or
Steven Phillips, CFO, 508-248-3900, both of FiberCore, Inc., or
general information, Alison Ziegler, or analyst information,
Christie Mazurek, or media information, Marty Gitlin,
212-661-8030, all of The Financial Relations Board - BSMG
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