Integral

History

2023: Contract for the supply of microelectronics to Russia for 1.5 billion rubles

Integral will supply Russia with an electronic component base, including various semiconductors and integrated circuits, for 1.5 billion Russian rubles. On July 11, 2023, the general director of Integral OJSC, the management company of Integral holding, Andrei Buinevich, told reporters about this.

According to him, Integral entered into an agreement with the Russian side in July 2023. At the same time, the details of the contract were not disclosed.

As noted by Andrei Buinevich, the company is developing microelectronics together with Russian partners as part of the roadmap for the development of the microelectronic industry in the Union State. When and what exactly components will be delivered to Russia, the message is not specified.

By July 2023, Integral OJSC is under sanctions. Numerous restrictions against the Belarusian tech giant were introduced by the US authorities at the end of February 2022, and then the UK, Canada, New Zealand and Japan followed their example.

By July 2023, the holding includes several companies. Among them are manufacturers of microelectronics (NTC Belmikrosystems, UP Factory of Semiconductor Devices, etc.) and electronics (RUE SKB Nemiga, RUE Factory Electronics, etc.).

The signing by Russia of a contract with the Belarusian Integral for 1.5 billion rubles took place less than two months from the date of the adoption of the "Concept of Technological Development" of Russia until 2030. In accordance with the document, the Russian Federation must have its own scientific, personnel and technological base of critical and end-to-end technologies. By this time, the national economy should ensure the production of high-tech products, including chips and other microelectronics.^[1]

2014: "Roselectronics" started due diligence of the Belarusian "Integral"

In April 2014, during the official visit of the Russian delegation to the Republic of Belarus, Deputy Chairman of the Government of the Russian Federation, Chairman of the Military-Industrial Commission under the Government of the Russian Federation Dmitry Rogozin and General Director of the Roselectronics holding Andrei Zverev visited OJSC Integral. According to the previously signed Memorandum of Understanding, the possibility of transferring a controlling stake in the Belarusian Integral to the Roselectronics holding is being considered. In return, the Russian side is investing in the development of joint production of microelectronics.

By agreement of the parties, an independent assessment of the market value of OJSC Integral shares by the Big Four company will be made in the near future.

The memorandum provides for a mutually beneficial unification of scientific, technical and production potential and the joint implementation of investment projects carried out by the Russian holding within the framework of state programs.

As a result of the additional issue of shares, the share of OJSC Roselectronics in the authorized capital of OJSC Integral will be at least 51%. Ernst & Young, an independent British audit and consulting company, was involved in assessing the value of shares and a set of necessary estimates before the transaction.

"This project" Roselectronics "carries out within the framework of Russian-Belarusian industrial integration. The project was agreed upon at the intergovernmental level. Integral is one of the largest developers, manufacturers and exporters of microelectronic components, and at the moment almost 80% of its products are supplied to Russia, "said Andrei Zverev, General Director of the Roselectronics holding.

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