FiberCore receives $55 million in contracts

CHARLTON, Mass. (Bloomberg) — FiberCore Inc., the maker of optical fiber for
telecommunications cables whose shares have risen 51 percent this year, said it
received contracts from North American customers valued at a minimum of $55 million.
About 70 percent of the orders were added to the company’s backlog, which was
a record $260 million as of March 31, FiberCore said in a statement. The single-mode
and multimode fiber is expected to be shipped from 2001 through 2004. Charlton,
Massachusetts-based FiberCore didn’t immediately identify who the contracts are
with, although the company’s customers and partners include Corning Inc., Lucent
Technologies Inc. and Pirelli SpA. The company said the contracts could increase
in value by $30 million to $100 million upon successful completion of the initial
projects.