CHARLTON, Mass., March 1 /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
received orders from European customers valued at approximately $19 million,
several under "take or pay" arrangements.
These orders are primarily for FiberCore's multimode fiber to be used in
premises and LAN applications. They are scheduled to be shipped throughout
2001 to 2003 from the Company's German production facilities and have been
added to backlog, which at January 31, 2001 was a record $252 million. At
December 31, 2000, backlog was $190 million.
Commenting on the contracts, Bob Sebesto, Vice President of Global Sales
and Marketing said, "We continue to experience strong demand in the European
market, especially for multimode fiber. As the only independent fiber
supplier in Europe, we have made significant inroads over the past few years
with many of the major cable manufacturers who are looking for a stable
long-term source of supply. The continued growth in our backlog, more than
50% of which are "take or pay" contracts, parallels the Company's rapid
capacity expansion plans."
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, by FAX -- 508-248-5588, or E-Mail:
sales@FiberCoreUSA.com; 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-CEO, or Steven
Phillips, CFO, of FiberCore, Inc., 508-248-3900; General
Information, Alison Ziegler, Analysts, Christie Mazurek, or
Media, Marty Gitlin, of The Financial Relations Board-BSMG,
212-661-8030
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