Sterlite Technologies Enters Into Joint Venture With Conduspar Condutores Eletricos to Manufacture Optical Fiber Cable in Brazil

PUNE, India and CURITIBA, Brazil, July 10, 2013 /PRNewswire/ --

Sterlite Technologies Limited [BSE: 532374, NSE: STRTECH], a leading global provider of transmission solutions for the telecom and power industries, has entered into a joint venture agreement with Conduspar Condutores Eletricos Limitada ("Conduspar").

Conduspar is one of the largest companies in Brazil specialised in providing copper and aluminium cables for low and medium voltage applications in Latin America. The 50-50 joint venture will be a greenfield facility in Curitiba within the state of Parana (Brazil), and produce optical fiber cables for the Latin American markets. One of the fastest growing markets for fiber cable, Latin America at present, has an annual demand of more than 10 million fiber kilometers. This venture would be a key milestone towards Sterlite's global expansion strategy of its telecommunications business.

"Latin America is an important market for us from a growth perspective and we are pleased to have this joint venture with a strong and reputed partner like Conduspar. Both the companies share a common vision and bring together complementary strengths for this venture," said Mr. Pravin Agarwal, Whole-time Director, Sterlite Technologies Limited.

Mr. Andre Abage, CEO and Promoter of Conduspar, who will drive this joint venture added, "We are very excited at the prospect of partnering with the Sterlite group. With Sterlite's technology and expertise in the telecom cable domain and Conduspar's local presence, we will create a formidable brand in this market."

The joint venture is expected to start commercial production by the first quarter of 2015 fiscal year.  

About Sterlite Technologies Limited

Sterlite Technologies Limited ("Sterlite") [BSE: 532374, NSE: STRTECH], is a leading global provider of transmission solutions for the power and telecom industries. Equipped with a product portfolio that includes power conductors, optical power ground wire, EHV/HV power cables, optical fibers, telecommunication cables and a comprehensive telecom systems/solutions portfolio, Sterlite's vision is to 'Connect every home on the planet'. Sterlite is also executing multi-million dollar power transmission system projects, pan-India. www.sterlitetechnologies.com

About Conduspar Condutores Eletricos Limitada

Conduspar Condutores Eletricos Limitada ("Conduspar"), a privately held company in Brazil, is part of the Condusa group of companies incepted in 1925. Conduspar is one of the largest companies in Brazil specialised in providing copper and aluminium cables for low and medium voltage applications. With over 28 years of experience in high quality products, Conduspar has gained a leading market position in the power cable industry for the Latin America market. www.conduspar.com.br

Primary Media Contact: Anupama Bhardwaj, [email protected], 91-20-30514000

Secondary Media Contact: Vishal Aggarwal, [email protected], 91-20-30514000