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FiberCore Building $30-Mil Plant in Auburn

AUBURN, AL-The wholly-owned subsidiary of Charlton, MA-based FiberCore Inc. is receiving $1.1 million in free land from the city of Auburn, $20 million in loans from the Retirement Systems of Alabama and local/state tax credits worth an additional $20 million.

By Mark Clothier | Updated on January 03, 2002

AUBURN, AL-FiberCore U.S. is building its first American manufacturing plant in this east Alabama town. The estimated $30 million factory will take 15 months to build. FiberCore said it hopes to have the plant up and running by 2004. The square footage of the plant wasn’t disclosed.

FiberCore U.S. is a wholly owned subsidiary of FiberCore Inc. of Charlton, MA. FiberCore makes optical fiber and preform for telecommunication and data communications companies.

FiberCore is contributing one-third of the estimated $30 million project, the company says in a prepared statement. The remaining cost will be covered by a 15-year loan from the Retirement Systems of Alabama. The loan carries an 8% interest rate. The property, plant and equipment are being put up as collateral for the loan.

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