OREANDA-NEWS. SITRONICS Microelectronic Solutions business division and Mikron and China National Machinery Import & Export Corp. signed the $ 75 million contract for supplies of microelectronic products to China for a term of 5 years.

The contract between the companies was signed in the framework of the intergovernmental agreement between Russia and China on discharge of the state debt of former USSR to China.

According to the contract companies members of SITRONICS Microelectronic Solutions business division will supply their products to China National Machinery Import & Export Corp for repayment of this debt. Russian Ministry of Economic Development and Trade of the Russian Federation will remit funds for accomplished works to JSC SITRONICS on the basis of acceptance report of Chinese Ministry of Commerce.