FiberCore Announces $94 Million Multi-Year Contract
CHARLTON, Mass., Oct 30, 2000 (BUSINESS WIRE) -- FiberCore, Inc. (OTC BB:FBCE)
FiberCore, a leading manufacturer and global supplier of optical fiber and
preform for the telecommunication and data communications markets, today
announced that it received a revised contract for single-mode optical fiber from
an existing South American customer valued at approximately $ 94 million, of
which $73 million is guaranteed under a "take or pay" provision. In addition,
payments of $6 million over the next eight months are scheduled in advance of
shipment. This contract supercedes an earlier contract for $ 27 million,
previously announced on August 2nd; product will be shipped throughout 2000,
2001, 2002, and 2003 from Xtal, FiberCore's newly acquired facility in Brazil.
Dr. Mohd Aslami, President and CEO, stated, "Unlike the softness in the
component sector recently reported by several companies, the upward revision as
well as the favorable terms of the contract from a major cabler represents
continued evidence of the strength of the optical fiber market."
In addition to our standard multi-mode and single-mode fiber, we offer GigaGrade
multi-mode fibers which are optimized to provide long link lengths at Gigabit
speeds in laser-based systems, and guarantees high bandwidths when used with
LED's (using overfilled launch).
The company also offers a line of ValuGrade(R) and EconoGrade(R) 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; the delivery of and
ability to commission new equipment as scheduled; 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.
CONTACT: FiberCore, Inc.
Charles DeLuca
508-248-3900
FBCE2CDL@aol.com
URL: businesswire.com
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