FiberCore Announces $23 Million European Contract
CHARLTON, Mass., Jun 18, 2001 /PRNewswire via COMTEX/ -- 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 a multi-year contract from a long-standing customer
valued at approximately $23 million, a small portion of which is guaranteed
under a "take or pay" arrangement.
The contract includes predominately multimode fiber, including high performance
GigaGrade(TM) fiber. Product is scheduled to be shipped beginning in 2001
through the end of 2004 from the Company's German production facilities and has
been added to backlog.
Commenting on the contract, Bob Sebesto, Vice President of Global Sales and
Marketing said, "Despite the softness in certain markets, we continue to
experience strong demand in Europe, especially for our multimode fiber. We
continue to be the market leader in Germany and are increasing our multimode
market share overall in Europe. As the only independent fiber supplier in
Europe, we continue to make significant inroads with many of the major cable
manufacturers who are looking for a stable source of supply over the long term."
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: 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. |
