The Sitronics Armenia CJSC, a subsidiary of the SITRONICS OJSC, has been registered in Armenia. The company’s principal task is the centralized management of the enterprises transferred to it by Rosgosimuschestvo (RF State Property Management Committee) last year.

Among the enterprises are the Mars plant, Yerevan Research Institute of Automated Control Systems, etc.. The Armenian company will also manage the free economic zone in the aforementioned territories.

The enterprises were transferred to Russia against Armenia’s U.S. $100m national debt.

The SITRONICS JSC is the largest high-tech company in Eastern Europe operating in the field of telecommunications solutions, information technologies, system integration and consulting, and the development and manufacture of microelectronics products.