CHARLTON, Mass., July 19 /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 has
strengthened its management teams in Asia and Brazil. The Company has
appointed Bernard A. Moisan Managing Director of Asian Operations, including
Malaysia and Thailand. The position was previously held by Dr. Mohd A.
Aslami, President and Chief Executive Officer. In addition, the Company has
added two key people to its Xtal FiberCore Brasil S.A. operations, Aristeu da
Silva Grillo and Flavia Regina Trevisan, as Chief Financial Officer and
Corporate Counsel, respectively.
Prior to joining FiberCore, Mr. Moisan, age 52, was the Chief Financial
Officer of Optical Filter Corporation (OFC). Having joined OFC in 1993, he
guided the company through its significant growth, negotiated with banks,
creditors, vendors and customers, completed two refinancings to take advantage
of improved business conditions, and coordinated the company's January 1998
merger with NetOptix Corporation, formerly Galileo Corporation. He remained
the Chief Financial Officer of the OFC subsidiary of NetOptix until completion
of the company's acquisition by Corning Incorporated in February 2000. Mr.
Moisan's 30 years of experience also includes controller positions at Allied
Controls Inc./Automated Light Technologies, SpecTran Corporation and Valtec
Corporation.
Mr. Grillo, age 55, comes to FiberCore with 27 years of experience in
accounting and 25 years working with multinational companies. Most recently,
Mr. Grillo was Chief Financial Officer and Investor Relations Director for
Tess S.A, the mobile cellular operator for the interior of the State of Sao
Paulo, Brazil. From 1995 to 1999, Mr. Grillo was Chief Financial Officer and
Investor Relations Director for Algar Telecom S.A, part of the Lightel SA
holding company. At both companies he was responsible for strategic financial
planning, control of operations and business planning, as well as negotiations
of vendor financing, loans and strategic partnerships. Prior experience
includes finance positions at United Distillers do Brasil LTDA -- Guinness PLC
Group, Cinter International Brands LTDA -- Cinzano, and Imbel -- Industria de
Material Belico do Brasil.
Ms. Trevisan, age 25, comes to FiberCore from Arena Alvarez Advogados, a
law firm in Sao Paulo, Brazil that specializes in commercial, international
and civil law. Ms. Trevisan was responsible for the international department
of the firm and supported foreign clients in activities that included
insurance, contracts and legal proceedings. From 1996 to 1998, Ms. Trevisan
trained at Banco Raibobank do Brasil S/A and specialized in commercial,
international, labor and civil law. She is a graduate of Mackenzie University
Law School and was approved in the April 1999 Brazilian Bar Association
Examination.
Commenting on the appointments, Dr. Aslami, said, "We continue to make
great strides to grow FiberCore's operations around the world. Our facility
in Brazil currently accounts for the largest percentage of our sales. It has
grown over 100% in the past 12 months and is expected to grow over 100% again
in the next 12 months. We also see Asia as one of our largest growth
opportunities in the future. These management appointments are critical to
supporting our growth in these key markets. We are fortunate to find such
talented executives and look forward to their contributions. This
strengthening of our management team with both seasoned executives, and an
unusually bright young attorney will help ensure that FiberCore is equipped to
manage its growth in the years ahead."
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 of FiberCore, Inc., +1-508-248-3900; General,
Alison Ziegler, Analysts, Peter Seltzberg, or Media, David Closs
of The Financial Relations Board BSMG, +1-212-445-8000
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