CHARLTON, Mass., Aug. 23 /PRNewswire/ -- FiberCore, Inc. (Nasdaq: FBCE), a
leading manufacturer and global supplier of optical fiber and preform for the
telecommunications and data communications markets, today announced that it
has revised the terms of an existing $28 million supply contract with one of
Brazil's leading multi-national cable manufacturers. The main feature of the
revision is the addition of a 30% "take or pay" provision.
Commenting on the contract change, Bob Sebesto, Vice President of Global
Sales and Marketing said, "Even with the slowdown in the Brazilian market, our
customers continue to rely on us as a long-term supplier and are willing to
back up their commitments with guarantees. To compensate for the regional
softness, we have recently increased exports from our Brazilian facility. We
have also begun manufacturing multimode fiber in Brazil to augment our German
facility's sold-out capacity position to help meet increased global demand."
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 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, both of
The Financial Relations Board BSMG Worldwide, +1-212-445-8400
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