CHARLTON, Mass., Oct. 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 that it
received its first major order from an Asia-Pacific customer, currently valued
at approximately $28 million.
The first $3.0 million of the order is for single-mode fiber and is
scheduled to be shipped in the fourth quarter from FiberCore's Brazilian
facility. The remaining $25 million is scheduled for delivery in 2002. The
Company is also anticipating orders for its multimode fiber as well.
Backlog at September 30, 2001, which includes the $28 million order as
well as recent revisions to the value of existing contracts due to standard
contractual price adjustments, was in excess of $350 million.
Commenting on the Company's opportunity in Asia-Pacific, Dr. Mohd Aslami,
President and CEO said, "The Asian market continues to be the one region that
remains relatively unaffected by the recent slowdown. We also believe this
market is poised to become one of the largest users of fiber over the next
five to ten years."
"In order to target this large market, we began increasing our sales and
marketing presence in the region earlier this year, making inroads with many
of the major cablers and end-users," added Dr. Aslami. "As with many of our
current customers, we have found that our position as the only independent
fiber manufacturer continues to be a significant competitive advantage as it
helps to ensure that our customers have a secure source of fiber over the
long-term. Importantly, we continue to pursue joint venture opportunities to
establish manufacturing capacity in the Asia-Pacific region. A joint venture,
if completed, would reinforce our commitment to the region and ensure that we
meet future requirements that all fiber be manufactured locally for China by
2005."
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 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 Bob
Lobban, CFO of FiberCore, Inc., +1-508-248-3900; General Info.,
Alison Ziegler, Analysts, Peter Seltzberg, or Media, Judith
Sylk-Siegel, all of FRB Weber Shandwick, +1-212-445-8400
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