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Vedanta Defers Restructuring Plan but Continues $9.8 Billion Expansion, an Industrial Info News Alert

Posted on: Monday, 6 October 2008, 06:00 CDT

Researched by Industrial Info Resources (Sugar Land, Texas) -- Vedanta Resources plc (LSE:VED) (London) announced a group restructuring plan in early September in response to shareholders requesting elimination of conflicts of interest and a simplification of the corporate structure. However, in view of the current changes in the global financial market and feedback from its investors, the company has deferred the restructuring plan to a time when market conditions are more favorable. Vedanta had intended to reorganize the company to strengthen its metal and mining business and planned to have three verticals units: Sesa Goa Limited (BSE:500295) (Panaji, Goa) for iron ore; Sterlite Industries India Limited (NYSE:SLT) (Tuticorin, Tamil Nadu) for copper, zinc, and lead; and Sterlite Aluminum (Salem), an aluminum and energy unit.

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Industrial Info Resources (IIR) is a marketing information service specializing in industrial process, energy and financial related markets with products and services ranging from industry news, analytics, forecasting, plant and project databases, as well as multimedia services. For more information send inquiries to metalsandmineralsgroup@industrialinfo.com or visit us at www.industrialinfo.com.

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 Contact: Joe Govreau 713-783-5147  

SOURCE: Industrial Info Resources

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