CHARLTON, Mass., July 26 /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
received a multi-year contract, valued at approximately $20 million, from a
leading independent global cable manufacturer.
The contract, which states that the customer is obligated to purchase a
certain percentage of its fiber requirements from FiberCore, also gives the
Company a right of first refusal to supply additional fiber over the contract
amount if the customer's requirements increase. In addition, the contract
provides for certain penalties for the customer's failure to purchase the
stated percentage of their requirements. Product, which includes multimode
and single-mode fiber, is scheduled to be shipped beginning in 2002 through
the end of 2004 from the Company's German production facilities to the
customer's manufacturing facilities located throughout the world. This
contract has been added to backlog, which was in excess of $300 million at the
end of June 2001.
Commenting on the contract, Bob Sebesto, Vice President of Global Sales
and Marketing said, "With our primary focus on the global data communications,
metro and access markets, rather than the long haul market, we continue to see
good demand for our products and a growing backlog. Additionally, many
independent cable manufacturers who relied on us during the recent fiber
shortage continue to view us as a stable source of supply over the long term.
These strong customer relationships as well as our position as the only pure
fiber supplier, which means we do not manufacture cable and therefore don't
compete with our customers, gives us a unique competitive advantage in the
marketplace."
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 Robert
Lobban, CFO, both of FiberCore, Inc., +1-508-248-3900; or General
Info., Alison Ziegler, Analyst Info., Peter Seltzberg, or Media
Info., David Closs, +1-212-445-8400, all of The Financial
Relations Board BSMG Worldwide
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