Optelecom chairman announces retirement

Maryland Watch

January 10, 1998

Optelecom Inc., a Gaithersburg fiber-optic communications company, announced yesterday that its founder and chairman, William H. Culver, has retired.

Culver, 70, is leaving his chairman post to pursue independent projects. He will remain with the company as a director.

"I'm very enthusiastic about what remains to be done out there, with fiber optics really taking off," he said.

Culver founded Optelecom in 1972. The company, which has 65 employees at its Gaithersburg headquarters, provides fiber-optic services to the defense, oil and communications industries.

Culver said the search for his successor as company chairman has not been completed.

On Nov. 10, Optelecom announced 1997 year-to-date revenue of $9.4 million, up from $6.4 million for the same period in 1996. On Dec. 15, the company announced its acquisition of Paragon Audio Visual Ltd., a data products firm based in the United Kingdom.

"Optelecom's done well enough by me that I can afford to do it," Culver said of his new state of semi-retirement.

Pub Date: 1/10/98

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