Sterlite Optical Technologies
Encyclopedia
Sterlite Optical Technologies Ltd. is an India
n manufacturer of optical fiber
s, telecommunication cables and power transmission conductors and exports optical fiber to overseas markets in China, Europe and South East Asia. The company is listed on the Bombay Stock Exchange
and the National Stock Exchange of India
. The company changed its name to 'Sterlite Technologies Limited' from Dec.2006. It is India's only fully integrated Optical Fiber producer and one of the largest suppliers of Optical Fibers to overseas markets in China, Europe and South East Asia.
Sterlite Optical Technologies is partially owned by Sterlite Industries (India) Limited, which is in turn 77%-owned by Vedanta Resources
.
The Company has an optical fiber manufacturing plant located at Aurangabad, India and Telecom Cable & Power Transmission Conductor plants at Silvassa
, Pune
& Haridwar
India. In 2002, Sterlite was forced to shelve plans for a large new facility in Bangalore
due to market weakness.
charging Sterlite with infringement of a number of optical fiber patents including those related to manufacturing fiber with low polarization mode dispersion.
Sterlite was cited in an Indian parliamentary discussion of government purchasing irregularities.
Sterlite was served a show cause cum demand notice by the Indian Customs and Excise authorities for alleged willful evasion of Custom and Excise Duties in year 2002. This matter is presently listed for hearing at the Supreme Court of India.
Sterlite Optical Technologies is the only company to be awarded the 'Top Telecom Cables Company' in India, four times in the past five years, as per the annual V&D 100 Survey and is a winner of the ‘Amity Award for Corporate Excellence’ and ‘ELCINA Award for R&D’ in 2006.
Deloitte has nominated Sterlite Optical Technologies as the 6th Fastest Growing Technology Company in India in 2006. The Company is among the winners of the 'Deloitte Technology Fast 50 India & Fast 500 Asia Pacific awards for 2005 & 2006.
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
n manufacturer of optical fiber
Optical fiber
An optical fiber is a flexible, transparent fiber made of a pure glass not much wider than a human hair. It functions as a waveguide, or "light pipe", to transmit light between the two ends of the fiber. The field of applied science and engineering concerned with the design and application of...
s, telecommunication cables and power transmission conductors and exports optical fiber to overseas markets in China, Europe and South East Asia. The company is listed on the Bombay Stock Exchange
Bombay Stock Exchange
The Bombay Stock Exchange is a stock exchange located on Dalal Street, Mumbai and is the oldest stock exchange in Asia. The equity market capitalization of the companies listed on the BSE was 1.63 trillion as of December 2010, making it the 4th largest stock exchange in Asia and the 8th largest...
and the National Stock Exchange of India
National Stock Exchange of India
The National Stock Exchange is a stock exchange located at Mumbai, Maharashtra, India. It is the 9th largest stock exchange in the world by market capitalization and largest in India by daily turnover and number of trades, for both equities and derivative trading. NSE has a market capitalization...
. The company changed its name to 'Sterlite Technologies Limited' from Dec.2006. It is India's only fully integrated Optical Fiber producer and one of the largest suppliers of Optical Fibers to overseas markets in China, Europe and South East Asia.
Sterlite Optical Technologies is partially owned by Sterlite Industries (India) Limited, which is in turn 77%-owned by Vedanta Resources
Vedanta Resources
Vedanta Resources plc is a global mining and metals company headquartered in London, United Kingdom. It is the largest mining and non-ferrous metals company in India and also has mining operations in Australia and Zambia. Its main products are copper, zinc, aluminium, lead and iron ore...
.
The Company has an optical fiber manufacturing plant located at Aurangabad, India and Telecom Cable & Power Transmission Conductor plants at Silvassa
Silvassa
Silvassa is the capital of the Indian Union Territory of Dadra and Nagar Haveli.The city has a large number of factories and industries providing significant government revenue, which allows the city to maintain a low level of taxation.-Geography:Silvassa is located at...
, Pune
Pune
Pune , is the eighth largest metropolis in India, the second largest in the state of Maharashtra after Mumbai, and the largest city in the Western Ghats. Once the centre of power of the Maratha Empire, it is situated 560 metres above sea level on the Deccan plateau at the confluence of the Mula ...
& Haridwar
Haridwar
Haridwar is an important pilgrimage city and municipality in the Haridwar district of Uttarakhand, India...
India. In 2002, Sterlite was forced to shelve plans for a large new facility in Bangalore
Bangalore
Bengaluru , formerly called Bengaluru is the capital of the Indian state of Karnataka. Bangalore is nicknamed the Garden City and was once called a pensioner's paradise. Located on the Deccan Plateau in the south-eastern part of Karnataka, Bangalore is India's third most populous city and...
due to market weakness.
Awards and controversies
In 2002, Sterlite was the subject of a major lawsuit by Fitel USA, a subsidiary of Furukawa ElectricFurukawa Electric
Furukawa Electric is a Japanese company. It is listed on the Nikkei 225. Its products include superconductivity cables....
charging Sterlite with infringement of a number of optical fiber patents including those related to manufacturing fiber with low polarization mode dispersion.
Sterlite was cited in an Indian parliamentary discussion of government purchasing irregularities.
Sterlite was served a show cause cum demand notice by the Indian Customs and Excise authorities for alleged willful evasion of Custom and Excise Duties in year 2002. This matter is presently listed for hearing at the Supreme Court of India.
Sterlite Optical Technologies is the only company to be awarded the 'Top Telecom Cables Company' in India, four times in the past five years, as per the annual V&D 100 Survey and is a winner of the ‘Amity Award for Corporate Excellence’ and ‘ELCINA Award for R&D’ in 2006.
Deloitte has nominated Sterlite Optical Technologies as the 6th Fastest Growing Technology Company in India in 2006. The Company is among the winners of the 'Deloitte Technology Fast 50 India & Fast 500 Asia Pacific awards for 2005 & 2006.
External links
- Company website
- Amended F-1 registration statement for Sterlite Industries (India) Limited filed with the U.S. Securities and Exchange Commission