CHARLTON, Mass., June 12 /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 the recent
appointments of Robert P. Lobban as Vice President of Finance, John Ronnquist,
CPA as Corporate Controller, and Sugato Mitra as Director of Technical
Services. Mr. Lobban and Mr. Ronnquist will report directly to Steven
Phillips, the interim Chief Financial Officer, and Mr. Mitra will report to
Dr. Mohd Aslami, President and Chief Executive Officer.
Mr. Lobban, age 46, has been a consultant with the Company for the past
few months, primarily focusing on the new FiberCore Quartz operation in
Germany. Prior to working with FiberCore, he was the Chief Financial Officer
of a publicly held, Phoenix, Arizona-based manufacturing company. Mr. Lobban
has 25 years experience as a senior financial executive and spent nine years
as a management consultant to several Fortune 500 companies. Mr. Lobban holds
a Bachelor of Science in Industrial Engineering from Northeastern University
and a Masters in Business Administration from the Harvard Graduate School of
Business.
Mr. Ronnquist, age 53, joins FiberCore from Westvaco Corporation where he
was Divisional Manager of Financial Analysis. Previously, he spent ten years
as Vice President of Finance for one of Westvaco's recently acquired
companies, where he was responsible for all information technology functions.
From 1984 to 1989, Mr. Ronnquist was Chief Financial Officer and Director of
Luxtec Corporation, a publicly held manufacturer of fiber optic medical
instruments. He also held finance and accounting positions at Norton Company,
ATF-Davidson and KPMG - Peat Marwick. Mr. Ronnquist holds a BBA from Nichols
College.
Mr. Phillips commented, "We are very pleased that Bob and John have joined
the management team at FiberCore. Bob's primary focus will be on leading
projects and arranging financing for much of our expansion in Germany,
Thailand, and the U.S. His financial and operating expertise will be
particularly valuable as we continue to focus on improving the performance of
our manufacturing operations, while aggressively growing the business. John's
financial and accounting background will be well utilized as he assumes
primary responsibility for SEC reporting, day-to-day financial operations and
systems."
Mr. Mitra, age 50, is a chemical engineer with more than 25 years of
experience in process, facilities and environmental projects in fiber optics,
glass, chemical, cement and environmental services industries. His
responsibilities have included equipment and process design as well as project
management. Most recently, Mr. Mitra spent four years with Environmental Risk
Limited, an environmental and engineering consulting company in Bloomfield,
CT. His experience also includes time spent as a project leader at SpecTran
Corporation, now part of Lucent, and as a Senior Engineer at Corning Glass
Works. Mr. Mitra holds a Bachelor of Technology in Chemical Engineering from
Indian Institute of Technology and a Masters of Science in Chemical
Engineering from Louisiana State University.
"Sugato's expansive background in facility design, construction, process
improvement and start-up of various fiberoptic-related systems will be
invaluable as we pursue our plant expansion plans," commented Dr. Aslami. "We
are very pleased to be able to attract such high-caliber industry talent and
we look forward to their contributions."
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 known 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-CEO, or Steven
Phillips, CFO, both of FiberCore, Inc., 508-248-3900; General,
Alison Ziegler, Analysts, Peter Seltzberg, Media, David Closs,
all of Financial Relations Board BSMG, 212-661-8030
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