FiberCore Wins $23 Million European Contract

CHARLTON, Mass., June 20 -- FiberCore Inc. has 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 company said. The bulk of the contract consists of multimode fiber, including high performance GigaGrade fiber. Product shipments are scheduled to begin this year and will continue through the end of 2004 from the company's German production facilities and have been added to backlog, said FiberCore.
"Despite the softness in certain markets, we continue to experience strong demand in Europe, especially for our multimode fiber," said Bob Sebesto, vice president of global sales and marketing. "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."