Exhibit 99.1
TYCO INCREASES EQUITY INTEREST IN FIBERCORE
CHARLTON, Mass.--(BUSINESS WIRE)--Sept. 8, 2000--FiberCore, Inc. (OTC BB:FBCE
- NEWS)
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 that Tyco International
Ltd., through a wholly-owned subsidiary, invested $9 million in exchange for
1,352,375 shares of its common stock. FiberCore will use the proceeds to
repay obligations in connection with its recent purchase of Xtal from Algar
S.A.
"With this investment, Tyco owns over 11.6 million shares or about 22% of
our outstanding shares," said Dr. Aslami, President and CEO of FiberCore,
Inc. "Needless to say, we are very pleased with Tyco's continuing interest
in our company, as we look forward to a mutually rewarding relationship."
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:
FiberCore, Inc.
Charles DeLuca
508-248-3900
[email protected]
