OREANDA-NEWS. On July 05, 2007 JSC SITRONICS (“SITRONICS” or “The Company”) (LSE: SITR), a leading provider of telecommunications, IT and microelectronic solutions in Russia and the CIS, with a growing presence in other EEMEA emerging markets, announced that its ‘OAO NIIME & Mikron’ Microelectronic Solutions division subsidiary has won fifteen open tenders to develop electronic components for the Federal Agency of Industry, reported the press-centre of  OJSC SITRONICS.

The research and development (R&D) contracts are expected to be worth approximately US$ 50 million in revenues to SITRONICS.

The R&D projects are part of the Federal programme to develop a “National Technological Base”, and are expected to be completed in 2009. OAO NIIME & Mikron is also currently participating in a number of other R&D project tenders by the Russian Federation’s Ministry for Industry and Energy.

Gennady Krasnikov, Head of the SITRONICS Microelectronic Solutions division, commented: “Our success in wining these mandates demonstrates the quality and efficiency of our R&D capability, as well as our proven track record of executing such contracts. We reinvest up to 20% of our revenues in research and development and are committed to the advancement of existing microelectronic technologies and the development of the microelectronic industry as a whole.”