Sterlite announces name change
October 23, 2007 -- Sterlite Optical Technologies Ltd. revealed that it will drop the word "Optical" from its name.
October 23, 2007 -- In a letter to stakeholders from the company's senior management, Sterlite Optical Technologies Ltd. revealed that it will drop the word "Optical" from its name. The name change comes in the wake of the acquisition of a power transmission conductors business and the further expansion of the company's activities beyond optical technologies.
The letter, dated October 20 and signed by Whole-time Director Pravin Agarwal and CEO Anand Agarwal, states that the company, known for its optical fiber and cable products, now offers a suite of telecommunications and energy products. The products include power transmission and distribution conductors, copper telecom cables, structured data cables, customer premises equipment, access integration, and managed services, in addition to optical fiber and cable.
The company believes use of the word "optical" means its former name no longer adequately describes the scope of its business. A shareholder ballot conducted this past July granted approval for the name change, and the company will operate as Sterlite Technologies Ltd. as of November 20. All of its products and services will be offered under the common brand "Sterlite."