(cnhubei.com) FiberHome Technologies Group signed contract yesterday with Fujikura Ltd. Co from Japan to establish a joint-venture fiber production company.

The signing ceremony took place in Wuhan, capital of central China’s Hubei Province with major local government leading attending the ceremony.

The total registered capital of the newly established company reached US$1.65 million and will start running on July 1, 2005. FiberHome Technologies Group holds 60% of the share.

Upon the operation of the new company, fiber produced by Wuhan Optical Valley will take up 50% of domestic market.