CHARLTON, Mass., June 22 -- FiberCore Inc. has purchased Xtal Fibras Opticas S.A. for $25 million, said FiberCore. The purchase will be finalized on June 1.
With this acquisition, our ability to keep pace with high product demand has significantly increased, and we have gained a sizeable market share in the rapidly growing Brazilian and South American markets, as we continue to expand our international presence, said Mohd Aslami, President and CEO of FiberCore.
Xtal Fibras Opticas is a fiber manufacturing facility located in Brazil. FiberCore purchased the facility from Algar S.A., one of Brazil's largest private conglomerates, said FiberCore.