Amherst FiberOptics closes down

18 October 2002 -- Amherst FiberOptics, Nashville, TN, US, and Stockholm, Sweden, announced yesterday that it has ceased operations - effective immediately.

18 October 2002 -- Amherst FiberOptics, Nashville, TN, US, and Stockholm, Sweden, announced yesterday that it has ceased operations - effective immediately.

According to the company's website (www.amherstfo.com), the reasons for the shut-down are "due in part to the dramatic downturn in the fibre-optics market."

The parent company, TVC Communications has no plan to extend the employment of any of Amherst's senior management team. The company terminated the employment of all its remaining 18 employees without notice or severance agreements.

Amherst, purchased by TVC Communications in August 2000, was sold by The Ware Group, a privately held corporation, for an estimated USD70m during the telecom boom.

Amherst was the sole distributor for Ericsson Network Technologies, Stockholm, Sweden and for its sister company Seca Photonics - automated fusion splicing solutions in North America. Currently, Ericsson Network Technologies including Seca Photonics have no sales or service representation in the United States, Canada and Mexico.

For further information, contact Terry Shafer, General Manager, Amherst FiberOptics, 750 Old Hickory Blvd., Brentwood, TN 37027, USA. Tel: +1 615 376 4396; fax: +1 615 376 4401.

www.amherstfo.com

More in Market Research