FiberCorp Finds $12M, New CEO

BRUSSELS -- FiberCorp, the Metropolitan Fiber Connectivity specialist, has obtained additional finance of $12 million from current shareholders, increasing total funding secured since 2000 to $70 million. Now that the build-out of its networks in the Netherlands and Belgium under the EuroFiber brand name is essentially complete, FiberCorp has shifted its focus to servicing customers with its unique and highly attractive fiber offer. The additional funding will allow FiberCorp to continue to pursue business opportunities and finance customer extensions to its networks. FiberCorp is one of the few players that can address the lack of fiber in metropolitan areas within the Benelux countries. The company targets telecommunications companies (wireline carriers, xDSL and UMTS operators, xSPs, etc.) as well as large companies and governmental institutions. FiberCorp has established EuroFiber as a major provider of dark fiber solutions, and has previously announced that it counts major telecommunications operators among its customers. FiberCorp's new CEO, telecom veteran Gerald Wilczek, who is joining the company from Global One, will focus on accelerating sales growth based on operational excellence and competitive positioning. Armand Bogaarts, who co-founded the company in 2000 and has been its Chairman and CEO until January 1, 2002, will take on the position of Chairman of the Board. FiberCorp