Sitronics

• In February, 2011 merge of Sitronics to RTI began. Then the new structure — JSC RTI which AFK "Sistema" transferred 97% of stocks of the RTI System concern releasing the radio-electronic equipment was created. In new structure the corporation received 84.6% which remained stocks were transferred to the new partner - Bank of Moscow.

• In March, 2011 AFK "Sistema" made the decision on sale of RTI of 63% of stocks of Sitronics for $111 million.

• In April, 2011 it became known that the joint holding "Sitronics" will include the navigation operators belonging to AFK "Sistema" - NIS and M2M Telematics. Besides negotiations on entry into the capital of holding are conducted with Rusnano^[1].

"The basic decision on entry of navigation assets into the joint concern "Sitronics" is made", - the chairman reported Board of Directors of AFK "Sistema" Vladimir Yevtushenkov. It is about two enterprises. This is navigation operator "M2M Telematics" whose 51% of shares in 2010 for $20 million were acquired by AFK "Sistema", and federal operator of GLONASS "Navigatsionno — Information Systems" (NIS). At the time of the declaration of 49% of stocks NIS belong to Roskosmos, AFK "Sistema" owns other packet, and initially 51% of stocks NIS were separated just between Sitronics and RTI Group.

"Consolidation of Sitronics with navigation assets should eliminate the competition between the enterprises: for example, Sitronics makes navigation solutions for airplanes, - the top manager of one of navigation operators considers. - Another thing is that remains unclear as NIS appointed the GLONASS regulator will be in one structure with equipment manufacturer for navigation and the operator of navigation services".

Also Vladimir Yevtushenkov confirmed information on negotiations with Rusnano on exchange of its share in "Sitronics — Nano" on a share in RTI. "Sitronics — Nano" is created for the organization of microelectronic production for technology of 90 nanometers, for 49.75% of its stocks belong to Sitronik and Rusnano. The project investment cost made 16 billion rubles from which 13 billion rubles were invested by shareholders, the rest — the loan financing attracted from Rusnano for 10 years.

The representative of Rusnano says that depending on reorganization of Sitronics the state corporation considers different participation in the project of a naonoproizvodstvo. At the same time the president of Sitronics Sergey Aslanyan considers that for the enterprise it would be more convenient to see Rusnano as the direct partner in "Sitronics — Nano".

In general the final decision on structure of Sitronics it is not made yet, Yevtushenkov notes. According to the source in the hi-tech market, the purpose of restructuring is selection from Sitronics having a high debt load ($700 million for the end of last year), the Mikron enterprises. Consolidation with production assets of RTI will allow will provide Mikron with the large volume of defense orders, the interlocutor of CNews explained.