October 14, 2008
Sterlite Wins $5.2 Million Fiber-Optic Cables Contracts in Sub-Saharan Africa
Sterlite Technologies, a provider of wire and cable solutions for the telecom and power industries, has received contracts for its fiber-optic cables for deployment by telecom incumbents in sub-Saharan Africa for the expansion of their telecom backbone infrastructures. The contracts are worth a total of $5.2 million and supplies would be executed in fiscal year 2008-09.
Sterlite said that it has a firm market share of about 14% for bare overhead power conductors and a growing market share of about 10% for fiber-optic cables.
"Since our entry into the African market about three years ago, we have achieved significant milestones in product acceptance, market penetration and customer retention. We believe that Sterlite is well positioned for future growth in this region."