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AUGUST 15, 2007 -- Furukawa Electric North America, Inc. and its wholly owned subsidiary OFS Fitel LLC (search for OFS) say that the patent-infringement lawsuit against FiberCore (search for FiberCore), pending in the Western District of North Carolina, settled on terms that were "extremely favorable" to them.

"FiberCore did not dispute the position of OFS, that the asserted patents were both valid and infringed," stated Timothy F. Murray, president of operations and engineering for OFS. "We are pleased with the outcome, since OFS invests millions of dollars each year in research and development to create new, patented inventions that bring significant value to our customers. We are determined to stay the leader by investing in new technologies that answer the ever-changing demands that our customers face, striving for operational excellence and by diligently enforcing our intellectual property against would-be infringers."

Details of the settlement were not released.

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