VEDANTA RESOURCES Name change aims to create and leverage a unified brand across domestic and global businesses
Mumbai, February 20, 2015: Sesa Sterlite Limited, the Indian subsidiary of Vedanta Resources Plc, a globally diversified natural resources company, announced today that the company plans to adopt a new corporate name; 'Vedanta Limited'. The change in name would be subject to shareholder approval. The company is engaged in the exploration and production of aluminium, zinc, lead silver, copper, iron ore, oil & gas and commercial power."The name change from Sesa Sterlite to Vedanta Limited unifies our growing portfolio of global operations, reflects our commitment to all our stakeholders and our ability to create value while aligning our identity," said Mr. Tom Albanese, Group CEO, Vedanta, adding that the organization is proud to be a part of the natural resources sector in India, contributing significantly to the Indian GDP. "Our strategy to be the lowest-cost player and the most efficient will continue to be a critical foundation of our business operations," said Mr. Albanese.
The planned change in name of the company will have no impact on the operations of subsidiary companies Cairn India, Hindustan Zinc Ltd (HZL) and Bharat Aluminium Co. Ltd (BALCO) and the divisions of Sesa Sterlite.
The company's operations across India are: Aluminium and power plants in Odisha, copper smelter and power plants in Tamil Nadu, iron ore business units in Goa and Karnataka and a power plant in Punjab. The company's subsidiaries; BALCO operates an aluminium and captive power plant in Chhattisgarh, Hindustan Zinc, has zinc, lead and silver mines in Rajasthan and Cairn India's oil and gas operations are in Rajasthan, Gujarat and Andhra Pradesh. Internationally, the company has zinc business units in South Africa and Namibia and iron ore operations in Liberia.
About Vedanta
Vedanta is a diversified natural resources company, whose business primarily involves exploring and
processing minerals and oil & gas. The Company produces oil & gas, zinc, lead, silver, copper, iron ore, aluminium and commercial power and has a presence across India, South Africa, Namibia, Ireland, Australia, Liberia and Sri Lanka.
Sesa Sterlite Limited (SSLT), formerly Sesa Goa Limited, is the Indian subsidiary of Vedanta Resources
Plc, a London-listed company. Sustainability is at the core of SSLT's strategy, with a strong focus on health, safety and environment and on enhancing the lives of local communities. SSLT is listed on the
Bombay Stock Exchange and the National Stock Exchange in India and has ADRs listed on the New
York Stock Exchange.
Roma Balwani
President - Group Communications, Sustainability & CSR Tel: +912266461000
gc@vedanta.co.in
Disclaimer
This press release contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
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