FIBERCORE PAYS $25 MILLION FOR XTAL FIBRAS OPTICAS S.A., A FIBER MANUFACTURING FACILITY IN BRAZIL
FiberCore Inc., a manufacturer of optical fiber and preform for the telecommunication and data communications markets, announces that it has acquired Xtal Fibras Opticas S.A., a fiber manufacturing facility, from Algar S.A., one of the largest private conglomerates in Brazil. The deal is valued at $25 million. “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 presence,” says Dr. Mohd Aslami, president and CEO of FiberCore. “During the next year, we plan to double Xtal’s current sales of $25 million by integrating our technologies, investing in new capital equipment, and expanding Xtal’s export sales. Going forward, we expect that Xtal will be a major contributor to the growth of FiberCore.”
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