OREANDA-NEWS. On 14 April 2009 JSC SITRONICS (SITRONICS or the “Group”) (LSE: SITR), a leading provider of telecommunications, information technology and microelectronic solutions in Russia and the CIS, with a growing presence in other EEMEA emerging markets, announced that it has established a subsidiary in India under the name ‘Sitronics India’. The office of the subsidiary is located in New Deli.

The Group started to operate in the Indian market in May 2008, and has had a permanent presence in India since November 2008. The formal registration of the new subsidiary was completed in April 2009. Timur Vekilov, who has previously held the position of Chief Technical Officer at SITRONICS Information Technologies, was appointed Managing Director of the newly established company.

The primary objective of the new subsidiary is to introduce the complete range of Sitronics’ products and solutions to the Indian market. Sitronics India is expected to focus on projects for the telecommunications sector, the transport industry, the educational system, as well as State institutions.

Sergey Aslanian, President and Chief Executive Officer of SITRONICS, commented: “The establishment of subsidiary in India is in line with our stated goal to expand our presence in rapidly developing markets. We have already successfully delivered a number of projects in India, and we are confident that our expertise and knowledge of the local market will enable us to strengthen our position in the Indian IT and telecommunications sectors, which have a significant growth potential.”