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FiberCore Announces $19 Million in European Contracts

3/1/2001 11:32:00 AM
CHARLTON, Mass., Mar 1, 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 orders from European customers valued at approximately $19 million, several under "take or pay" arrangements.

These orders are primarily for FiberCore's multimode fiber to be used in premises and LAN applications. They are scheduled to be shipped throughout 2001 to 2003 from the Company's German production facilities and have been added to backlog, which at January 31, 2001 was a record $252 million. At December 31, 2000, backlog was $190 million.

Commenting on the contracts, Bob Sebesto, Vice President of Global Sales and Marketing said, "We continue to experience strong demand in the European market, especially for multimode fiber. As the only independent fiber supplier in Europe, we have made significant inroads over the past few years with many of the major cable manufacturers who are looking for a stable long-term source of supply. The continued growth in our backlog, more than 50% of which are "take or pay" contracts, parallels the Company's rapid capacity expansion plans."

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 Feeder Loop, 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.
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