Maybe this what the recent run-up was about? Is there more to come....
Wednesday August 2, 9:00 am Eastern Time
Press Release
FiberCore Announces $27 Million Multi-Year Contract
CHARLTON, Mass.--(BUSINESS WIRE)--Aug. 2, 2000--FiberCore, Inc. (OTC BB:FBCE - news)
FiberCore, a leading manufacturer of optical fiber and preform for the telecommunication and data communications markets, with production facilities in Jena, Germany and Campinas, Brazil today announced that it received a new order from an existing South American customer for singlemode optical fiber, valued at $27.4 million. This fiber will be shipped throughout 2000, 2001 and 2002 from Xtal; FiberCore's recently acquired facility in Brazil.
``With this order, we have received approximately $48 million from three of our South American customers over the past several weeks,'' said Dr. Aslami, President and CEO of FiberCore, Inc. ``We believe multi-year contracts are the best way to forge strong partnerships with our valued customers, as we commit resources to expand capacity.''
In addition to their standard multimode and singlemode fiber, the company recently announced the introduction of its new Optical Fiber System, GigaGrade ``Pick and Place''. GigaGrade ``Pick and Place'' is a flexible system that optimizes the applicability of multimode fiber for various purposes by providing long link lengths at Gigabit speeds in laser-based systems and guaranteeing high bandwidths when used with LED's.
The company also offers a line of ValuGrade® and EconoGrade® optical fibers. These fibers are available in single-mode and multi-mode designs, and are ideally suited for Feeder Loop, Fiber-to-the Curb, (FttC), Fiber-to-the Home (FttH) and Fiber-to-the Desk (FttD) applications.
For more information about the Company, its products, or shareholder information please visit our Website at: www.FiberCoreUSA.com or contact us at: Phone - (508) 248-3900 or by FAX - (508) 248-5588 or E-Mail FiberCore@aol.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. 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; ability to obtain required financing; dependence on a limited number of 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.
(News070d.doc) |
