Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


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Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


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Sistema PJSFC (SSA)

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Monday 19 June, 2017

Sistema PJSFC

Microelectronics JV with Ruselectronics

RNS Number : 4013I
Sistema PJSFC
19 June 2017




Sistema, Ruselectronics to establish a microelectronics JV

Moscow, 19 June 2017. - Sistema PJSFC (LSE: SSA, MOEX: AFKS), a Russian diversified public holding company, and JSC Ruselectronics, a subsidiary of the state-owned corporation Rostec, announce the signing of a memorandum of understanding on establishing a joint venture in the area of microelectronics (hereinafter, "the JV").


The parties will contribute their assets that design, manufacture and certify electronic components to the JV. The final list of assets to be transferred will be determined after the completion of due diligence.


Under the shareholder structure, it is planned that Sistema will receive a controlling stake in the JV. Sistema may also attract independent financial investors to the JV during the period it is being formed.


The transaction forming the JV is expected to close before the end of Q1 2018.


"Sistema has extensive competences in microelectronics. Its subsidiary, Mikron, has Russia's only production based on 180-90-65 nm technology and is conducting research into 45 nm technology. I am confident that the partnership, which will merge the country's leading microelectronic enterprises, will bring Russian microelectronics to a brand new level," said Sistema president Mikhail Shamolin.


"Merging assets will help to formulate a single R&D policy in radioelectronics. By doing so we will be able to build a technological chain based on unified principles and technologies, which will enhance efficiency and reduce excessive competition between Sistema and Rostec entities," said Sergey Boev, Deputy Chairman of Sistema's Board of Directors and Chairman of the Board of RTI.


"The merger of assets has been initiated in accordance with Rostec's strategy aimed at attracting investment partners to companies that ensure the country's technological sovereignty. It will allow pursuing a single research, technological and product strategy, centralising management of R&D programmes, expanding cooperation between enterprises, optimising utilisation rates and increasing operational efficiency," said Grigory Elkin, acting CEO of Ruselectronics.



For further information, please visit or contact:



Investor Relations

Yury Krebs

Tel.: +7 (495) 730 66 00

[email protected]

Press Service

Sergey Kopytov

Tel.: +7 (495) 228 15 27

[email protected]


Sistema PJSFC is a publicly traded diversified Russian holding company serving approximately 150 million customers in such sectors as telecommunications, retail, paper and packaging, agriculture, high technology, banking, real estate, pharmaceuticals, hospitality and healthcare services. The company was founded in 1993. Its revenue in 2016 reached RUB 697.7bn; its total assets equalled RUB 1.1tn as of 31 December 2016. Sistema's global depository receipts are listed under the symbol "SSA" on the London Stock Exchange. Sistema's ordinary shares are listed under the "AFKS" ticker on the Moscow Exchange. Website: 



This information is provided by RNS
The company news service from the London Stock Exchange

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