CHARLTON, Mass., July 11 /PRNewswire-FirstCall/ --
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 Mr. Hedayet Amin-Arsala has resigned his
position as a member of the Company's Board of Directors to assume the
position of Vice-President of Afghanistan.
Mr. Amin-Arsala, a Director of the Company since 1999, had been serving as
the Minister of Finance and Deputy Chairman for the Afghanistan Interim
Government until the recent appointment of the new government in Kabul. As a
result of his new duties, Mr. Amin-Arsala will no longer be able to serve the
Company in the position of Director.
"We want to thank Hedayet for his service to the Company and congratulate
him on his appointment to this important position at this critical time for
the country of Afghanistan," commented Dr. Mohd Aslami, CEO and President of
FiberCore. "We wish him every success in the rebuilding efforts that are
ahead of him and the country. He has served FiberCore well and I know that
the Company and I personally have benefited from his contributions and
advice."
To fill the vacancy on the Board, the Company has nominated Mr. Zaid
Siddig, a former director of the company. Mr. Siddig was one of the founding
partners and a Director of SpecTran Corporation (subsequently acquired by
Lucent Technologies), an optical preform and fiber manufacturing company, from
its inception in 1981 until 1991. He previously served as a Director of
FiberCore from 1994 through 1997. Mr. Siddig is currently a private investor.
Mr. Siddig's appointment will be voted on at the Company's upcoming Annual
Meeting on August 16, 2002. If elected, the number of Board members will
remain at six.
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 up to 10 gigabits/sec, 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 or reduced creditworthiness 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 Robert
Lobban, CFO, both of FiberCore, Inc., +1-508-248-3900, or
General, Alison Ziegler, or Analysts, Peter Seltzberg, or Media,
Judith Sylk-Siegel, all of FRB Weber Shandwick, +1-212-445-8400
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