26 March 1998: The US optical fibre and fibre-optic products company SpecTran Corporation recently announced the conclusion of Corning“s obligation to purchase multi-mode optical fibre from SpecTran …
26 March 1998: The US optical fibre and fibre-optic products company SpecTran Corporation recently announced the conclusion of Corning“s obligation to purchase multi-mode optical fibre from SpecTran under a multi-year supply contract which the companies entered into on 1 January 1996. Corning, also of the United States, has terminated its purchases of multi-mode optical fibre from SpecTran in exchange for a series of cash payments to SpecTran in 1998 totalling US$ 4,056,000. Commenting on the agreement, Raymond E. Jaeger, SpecTran“s chairman and chief executive officer, said, “SpecTran can better utilize and redirect its manufacturing capacity to build a long-term customer base for the sale of SpecTran“s multi-mode and single-mode optical fibre product lines.”