SIGNING OF INVESTMENT AGREEMENT TO LAUNCH 90 NANOMETRE MICROCHIP
PRODUCTION PROJECT
JSC Sitronics
MOSCOW, Russia – JSC SITRONICS (SITRONICS or the “Group”)
(LSE:SITR), a leading provider of telecommunications, information
technology and microelectronic solutions in Russia and the CIS, with a
growing presence in other EEMEA emerging markets, announced that it
today signed the investment agreement to launch full-scale 90 nanometre
microchip production in cooperation with the Russian Corporation of
Nanotechnologies (“RUSNANO”), Sistema and “NIIME and Mikron”, which is
part of the SITRONICS Microelectronics business division. The signing
ceremony took place during a visit by Prime Minister Vladimir Putin to
the “NIIME and Mikron” facility in Zelenograd, Russia.
The total investment in the project is expected to amount to RUR 16.5
billion, of which RUSNANO will invest RUR 6.5 billion. SITRONICS will
invest an equal amount in the form of the hi-tech equipment to be
provided by “NIIME and Mikron”. In a long-term perspective, the project
will also involve debt financing. The investments will be made in the
form of contributions to the charter capital of the joint venture
between RUSNANO and “NIIME and Mikron”.
The new facilities will be built on the basis of the existing “NIIME and
Mikron” facilities in Zelenograd and will include research and design
centers and microelectronic production capacity. STMicroelectronics, one
of the world’s leading developers of semiconductor solutions and a
long-term partner of SITRONICS, is the technology partner for the
project.
The range of products to be produced at the facility will target a
number of developing industrial sectors including Digital TV, GLONASS/
GPS navigation systems, industrial automation systems, automative
electronics and high security smart cards.
Anatoly Chubais, Chief Executive Officer of RUSNANO, commented: “The
launch of the 90 nanometre microchip production project is of
considerable strategic importance for Russia. Nanoelectronic production
in Russia plays an invaluable role in the development of the Russian
high-tech sector and the country’s overall technological security.”
Gennady Krasnikov, General Director of “NIIME and Mikron”, added: “Each
new generation of technology enhances chip performance and reduces power
consumption levels. The introduction of the 90 nanometre microchip
technology will enable us to enter new markets while maintaining market
leading positions for our 180 nanometre products”.
For further information, please visit www.sitronics.com
or contact:
SITRONICS is a leading provider of telecommunication solutions,
including software, equipment and systems integration, IT solutions and
microelectronic solutions in Russia and the Commonwealth of Independent
States with a strong presence in Central and Eastern Europe and a
growing presence in the Middle East and Africa.
SITRONICS serves over 3,500 clients, maintains offices in 32 countries
and exports its products and services to more than 60 countries.
SITRONICS has around 10,000 employees of whom approximately 4,500 are
involved in research and development.
SITRONICS’ key Telecommunication Solutions operations are based in
Prague, Czech Republic and Athens, Greece, while the company’s IT
Solutions and Microelectronics divisions are based in Kiev, Ukraine and
Zelenograd, Russia respectively.
SITRONICS generated revenues of US$ 404.0 million for the six months
ended June 30, 2009 and had total assets of US$ 1,844.8 million at the
end of the period. SITRONICS is majority owned by Sistema, the largest
public diversified corporation in Russia and the CIS, which manages fast
growing companies operating in the consumer services sector.
The Russian Corporation of Nanotechnologies (RUSNANO) was established in
2007 by the Federal law № 139-FZ to enable Government policy in the
field of Nanotechnology.
To accomplish this task, RUSNANO co-invests in nanotechnology industry
projects that have high commercial potential or social benefit.
Early-stage investment by RUSNANO lowers the risk of its investment
partners from the private sector.
RUSNANO participates in building nanotechnology infrastructure, which
includes the nanotechnology centers of excellence, business incubators
and early stage investment funds. RUSNANO provides scientific and
educational programs that are required for its investment projects to
succeed, and also supports the popularization of nanoscience and
nanotechnology. RUSNANO selects promising spheres for investment based
on longer-term foresight created by the leading Russian and world
experts.
To assist the Russian nanotechnology industry advance to the global
market and strengthening of its international links, RUSNANO develops
partnerships with the leading nanotechnology centers in the world and
organizes the annual Nanotechnology International Forum in Russia.
Some of the information in this press release may contain projections
or other forward-looking statements regarding future events or the
future financial performance of SITRONICS. You can identify
forward-looking statements by terms such as "expect," "believe,"
"anticipate," "estimate," "intend," "will," "could," "may" or "might"
the negative of such terms or other expressions. These statements are
only predictions and actual events or results may differ materially. We
do not intend to or undertake any obligation to update these statements
to reflect events and circumstances occurring after the date hereof or
to reflect the occurrence of unanticipated events. Many factors could
cause the actual results to differ materially from those contained in
our projections or forward-looking statements, including, among others,
general economic conditions, our competitive environment, risks
associated with operating in Russia, rapid technological and market
change in our industries, and other factors specifically related to
SITRONICS and its operations.
