CHARLTON, Mass., May 30 /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 contracts from several North American customers valued at a minimum
of $55 million. Approximately 70% of these contracts are under "take or pay"
arrangements and have been added to backlog, which at March 31, 2001 was a
record $260 million.
The contracts are for FiberCore's single-mode and multimode fiber,
including high performance GigaGrade(TM) fiber for use in Premises, LAN, and
MAN applications. Product is scheduled to be shipped from 2001 through 2004.
In addition, the contracts contain provisions to supply additional product
valued at between $30 million and $100 million, contingent upon the successful
completion of pending customer projects.
Commenting on the contracts, Bob Sebesto, Vice President of Global Sales
and Marketing said, "Despite the recent softness in the North American market,
we continue to experience strong product demand. This is primarily because we
are not dependent on the telecom long haul sector, which is experiencing most
of the slowdown. As the only independent fiber supplier in North America,
many of our customers continue to rely on FiberCore as a stable long-term
source of supply."
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 also know as Metropolitan Area Network, 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@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 and CEO, or
Steven Phillips, CFO, of FiberCore, Inc., 508-248-3900; General,
Alison Ziegler, Analysts, Peter Seltzberg, or Media, David Closs,
of The Financial Relations Board BSMG, 212-661-8030
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