JSC SITRONICS ('SITRONICS' or 'The Company') (LSE: SITR), a leading provider of
telecommunications, IT and microelectronic solutions in Russia and the CIS,
today announced that it has signed three contracts totalling US$ 39 million to
supply technological equipment and telecommunications solutions to MTS Ukraine,
one of the largest mobile operators in Ukraine.
SITRONICS Telecom Solutions Ukraine, a regional subsidiary of SITRONICS Telecom
Solutions, will supply the radio-relay equipment produced by INTRACOM TELECOM, a
subsidiary of SITRONICS, to establish and service 2,200 radio-relay links in the
MTS Ukraine network. The value of the contract is estimated at US$ 27 million.
SITRONICS will also provide and service for MTS Ukraine an Interactive Cell
Broadcast solution, which was created on the basis of Celltick's products. The
technology of interactive transmission allows for the delivery of new
information and entertainment services to the mobile phones of millions of
subscribers. The value of the contract is estimated at US$ 5.7 million.
In addition, SITRONICS will deliver a Fraud Management system based on the ECI
Telecom's solutions, under a contract worth an estimated US$ 6.3 million.
Sergey Aslanyan, President and Chief Executive Officer of SITRONICS, commented:
'The new contracts with MTS Ukraine, a subsidiary of the largest mobile operator
in Russia and the CIS, prove the strong competitiveness and high quality of our
products and solutions, and will assist in strengthening the cooperation between
For further information, please visit www.sitronics.com or contact:
SITRONICS Shared Value Limited
Alexander Goldin, IR Director Investor Relations
Tel: +7 495 225 0030 Larisa Kogut-Millings
firstname.lastname@example.org Tel: +44 (0) 20 7321 5037
Elena Sanarova, Public Relations
Tel: +7 495 225 0030
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
SITRONICS serves over 3,500 clients, maintains offices in 32 countries and
exports its products and services to more than 60 countries. SITRONICS has over
10,000 employees of whom approximately 4,500 are involved in research and
SITRONICS' key Telecommunication Solutions operations are based in Prague, Czech
Republic and Athens, Greece and Moscow, Russia, while the company's IT Solutions
and Microelectronic Solutions divisions are based in Kiev, Ukraine and
Zelenograd, Russia, respectively.
For the six months ended June 30, 2007, SITRONICS' revenues were US$ 638.3
million. As of 30 June 2007, SITRONICS had total assets of US$ 1.7 billion.
SITRONICS is majority owned by Sistema, the largest diversified holding company
in Russia and CIS.
SITRONICS has developed strategic alliances in its home markets with Cisco
Systems, STMicroelectronics, Infineon and Giesecke & Devrient in relation to
certain products and services. SITRONICS has vendor relationships with Siemens,
Ericsson, Motorola, ORACLE, Intel, Sun Microsystems and Microsoft. Key customers
include Sistema group companies, such as MTS, Comstar UTS and MTT, and also OTE,
Cosmote, Vodafone, Ericsson and TCL.
Note to editors:
Celltick Technologies Ltd. is a developer of Active Content Marketing. The
company was founded in 2000 and privately owned, Celltick is headquartered in
the UK with offices in Russia, Singapore, India, Thailand and Brazil and R&D
Centre in Israel.
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 similar
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.
This document does not constitute or form part of any offer or invitation to
sell or issue, or any solicitation of any offer to purchase or subscribe for,
any shares or other securities of SITRONICS, nor shall any part of it nor the
fact of its distribution form part of or be relied on in connection with any
contract or investment decision relating thereto, nor does it constitute a
recommendation regarding the securities of SITRONICS.