CHARLTON, Mass., June 18 /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 a multi-year contract from a long-standing customer valued at
approximately $23 million, a small portion of which is guaranteed under a
"take or pay" arrangement.
The contract includes predominately multimode fiber, including high
performance GigaGrade(TM) fiber. Product is scheduled to be shipped beginning
in 2001 through the end of 2004 from the Company's German production
facilities and has been added to backlog.
Commenting on the contract, Bob Sebesto, Vice President of Global Sales
and Marketing said, "Despite the softness in certain markets, we continue to
experience strong demand in Europe, especially for our multimode fiber. We
continue to be the market leader in Germany and are increasing our multimode
market share overall in Europe. As the only independent fiber supplier in
Europe, we continue to make significant inroads with many of the major cable
manufacturers who are looking for a stable source of supply over the long
term."
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 MAN (metropolitan area networks), 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, 508-248-3900, both of FiberCore, Inc.; or General,
Alison Ziegler, Analysts, Peter Seltzberg, or Media, David Closs,
212-661-8030, of The Financial Relations Board BSMG
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