Exhibit 99.1
NEWS RELEASE
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August 1, 2000
FIBERCORE ANNOUNCES NEW INTERIM CFO
CHARLTON, Mass.--(BUSINESS WIRE)--Aug. 1, 2000--FiberCore, Inc. (OTC BB: FBCE ).
FiberCore, a leading manufacturer of optical fiber and preform for the
telecommunication and data communications markets, with production facilities in
Jena, Germany and Campinas, Brazil today announced the resignation of its Chief
Financial Officer, Michael Beecher, effective July 31, 2000. Mr. Beecher who
resigned for personal reasons will assist in the transition of his duties. Mr.
Steven Phillips who has been a director and financial consultant to the company
for many years will assume the role of interim CFO until a permanent replacement
is recruited.
"I expect a relatively smooth transition, as Mr. Phillips has been actively
involved with many of our financial activities over the years," said Dr. Mohd
Aslami, CEO. "Mr. Phillips brings over 30 years of broad business and financial
experience, as a consultant and Chief Financial Officer."
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 [email protected]
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. 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; ability to obtain
required financing; dependence on a limited number of 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.
Contact: CONTACT: FiberCore, Inc. Charles DeLuca 508-248-3900 [email protected]
