Sitronics

From Wikipedia, the free encyclopedia

Sitronics (Russian: Ситро́никс) is a microelectronics company based in Moscow, Russia and controlled by Sistema holding. Its main assets are the electronics fabs, research and development facilities in Zelenograd and elsewhere in Eastern Europe.

Despite losses in 2007, the company is planning to remain a part of Sistema and to expand its product portfolio [1], bidding for large telecommunications contracts such as a $1 billion deal to build a network in Saudi Arabia.[2]

[edit] History

Sitronics was founded in 1997 in Zelenograd and was initially named "Scientific Center". In January 2005 its headquarters was moved to Moscow and in November 2005 the company got its current name. On February 7, 2007 the company placed an IPO on the London Stock Exchange.[3] Through a series of acquisitions it has become a leading Russian microelectronics company with revenues exceeding $1 billion in the first 9 months of 2007. [4]