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Financial Corporation "Sistema"

April 17, 2003

The Board of Trustees of ??? KNTS approves a company growth program for 2003

At its meeting on April 15, the Board of Trustees of ??? KNTS (Russian acronym for Science Center Concern) presided over by Nobel laureate Zhores Alferov, RAS Member and Vice President, considered the company's performance in 2002 and a business program for 2003. The company has set itself the following strategic guidelines: improving manufacturing processes and raising the output of microelectronics products, industrial electronics, telecommunications equipment, and household appliances. The program seeks to speed up growth of electronics and microelectronics, a leading high-tech sector of the Russian economy.

The Board of Trustees came out behind the initiative put forward by State Duma Deputy Nikolai Kovalev that a legislative bill be drafted for all possible support to be given to promote development of the microelectronics industry in Zelenograd, Moscow oblast. In the view of meeting participants, a pointed law on Zelenograd ought to outline of series of benefits and preferences to reinforce the city's scientific and manufacturing potential and to clearly formulate steps to enforce them.

??? KNTS is Russia's biggest electronics research and development complex bringing together microelectronics and manufacturing equipment producers. The company's enterprises develop and manufacture integrated circuits (NIIME Research Institute and Mikron Plant), microelectronics processing equipment (ITSM and NIITM), and industrial equipment and household appliances (Elaks, Elion, and Sitronics). Late last year, the company extended its control over STROM telecom s.r.o., a telecommunications company in the Czech Republic that manufactures a broad spectrum of modern telecommunications equipment.

Set up in 2000, OAO KNTS's Board of Trustees comprises scientists, State Duma and Moscow City Duma deputies, and heads of several ministries and departments.

 

 

 

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