CHARLTON, Mass., July 23 /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
promotion of Robert P. Lobban to Vice President, Chief Financial Officer.
Steven Phillips, the interim Chief Financial Officer since August 2000 and a
Director of the Company since May 1995, will resume his role as a consultant
to the Company and focus his efforts on merger and acquisition opportunities.
Mr. Lobban, age 47, joined FiberCore early in 2001 as a consultant,
focusing on the new FiberCore Quarz operation in Germany before being named
Vice President of Finance in April. In addition to his new position as Chief
Financial Officer, Mr. Lobban will also serve as Managing Director of
FiberCore Quarz GmbH. 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
including 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.
FiberCore President and CEO Dr. Mohd A. Aslami commented, "In the short
time Bob has been with us, he has made a significant contribution to the
Company and has quickly proven his value. He will devote much of his time on
the operational efficiencies of our manufacturing facilities and management
reporting issues. In addition, he will spend a significant portion of his
time raising capital for our global expansion. Both Steve and I are confident
in Bob's ability to handle his expanded responsibilities."
Dr. Aslami concluded, "I also want to take this opportunity to thank Steve
for serving as interim CFO. While not able to relocate to Charlton to assume
the CFO position full time, Steve will continue to work for the Company on a
part time basis out of his New York office, focusing on strategic growth
initiatives, including mergers and acquisitions, to enhance the Company's
financial performance and shareholder value. I believe we have built a strong
financial team at FiberCore, one that is well prepared to execute our
aggressive growth plans and I look forward to Steve's continued support."
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.
 back to top
Related links:
http://www.FiberCoreUSA.com
CONTACT:
Dr. Mohd A. Aslami, President - CEO, or
Steven Phillips, CFO, both of FiberCore, Inc., 508-248-3900; or
General, Alison Ziegler, or Analysts, Peter Seltzberg, or Media,
David Closs, all of The Financial Relations Board BSMG,
212-445-8400
|
