STL [NSE: STLTECH], a leading optical and digital solutions company, announced today that their fiber optic cable products manufactured in the US are compliant with the 'Build America, Buy America' (BABA) provisions of the Infrastructure Investment and Jobs Act (IIJA). Along with this announcement, STL also unveiled its Rapid series of products, which will add to its "In America, For America" portfolio of fiber optic cables. Rapid series of optical fiber cables range from high-capacity ribbonized cables to ruggedized designs for different applications like duct, direct buried, aerial and last-mile connectivity.
This development reinforces STL's commitment to connecting rural America and supporting the local supply chain. Through its world-class manufacturing investment of $56 million, STL is actively working with leading service providers in the country to serve the demand for both federal and privately funded broadband projects, including those included in the Broadband Equity, Access, and Deployment (BEAD) Program. STL's 168,000 sq. ft. North American headquarters in South Carolina, the "Palmetto Plant", was inaugurated in September 2023 by Hon. Henry McMaster, Governor of South Carolina, in the presence of government dignitaries, key customers, and representatives from the local Chambers of Commerce and has created 125 full-time jobs since then.
Paul Atkinson, CEO - Optical Networking, STL, said, "With multiple BEAD projects on the horizon, the next five years will be landmark years for broadband and rural connectivity in the US, and we are very excited to support this program. Driven by our purpose of 'Transforming Billions of Lives by Connecting the World', our teams here are engaging with service providers to enable fast and seamless fiber rollouts in every corner of the United States. STL remains committed to continuous product innovation and providing superior quality, craft-friendly optical products for faster network roll-out that meet or exceed industry standards."
Shares of Sterlite Technologies Limited was last trading in BSE at Rs. 131.00 as compared to the previous close of Rs. 130.25. The total number of shares traded during the day was 430443 in over 5167 trades.
The stock hit an intraday high of Rs. 134.30 and intraday low of 130.50. The net turnover during the day was Rs. 56902633.00. |
