OREANDA-NEWS. May 13, 2011. JSC SITRONICS (LSE:SITR), a leading supplier of solutions in the field of telecommunications, information technologies and microelectronics in Russia and CIS announces the signing of cooperation agreement with Shyam Networks Limited for promotion of solutions and technologies on the markets of Russia, CIS and India.

In framework of agreement Shyam Networks Limited will be offering to its customers the solutions of SITRONICS: the line of billing products FORIS, billing solutions for power generation industry, security systems etc.

Along with promotion of the existing products SITRONICS and Shyam Networks Limited will perform the joint development of the security solutions.

SITRONICS has a long and successful history of work on global markets and is a partner of the leading international vendors. The partnership with Shyam Networks Limited puts a spin on a global development of the Company and allows to develop the competences in telecommunications and security systems on new markets. Besides, this agreement allows SITRONICS to expand its presence on the market of India. Shyam Networks Limited also plans to offer the comprehensive solutions to Russian companies in partnership with SITRONICS.

“The agreement with Shyam Networks Limited provides new business opportunities for SITRONICS on Indian market, which is one of our priorities, – commented the Vice-President of SITRONICS, Mr. Boris Volpe. – Besides, for the first time we establish a joint international sales channel for sale of own products and we expect that the synergy will ensure competitive ability of our joint solutions not only on the local markets, but on the global scale as well.”.

“We are glad that SITRONICS, the largest high-tech company in Eastern Europe has chosen us as a partner for further development of its business on international level. Such cooperation with SITRONICS will allow us to receive required competences on perspective Russian market, and to our partner – to increase the presence in India”, – noticed the Chief Executive Officer of Shyam Networks Limited Mr. Ravi Ailawadhi.