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Sitronics appoints VP for strategy

by Stuart Wilson, Tuesday 14 October 2008

Russian IT and telecoms giant Sitronics has appointed Oksana Kovalevskaya as its new VP for strategy. Sitronics already has a strong presence in Russia and the CIS and is also now growing its presence in Eastern Europe, the Middle East and Africa. Kovalevskaya previously held the position of deputy general director for strategy and M&A at Sistema Mass Media.

Sergey Aslanian, president and CEO at Sitronics, commented: "We are pleased to welcome Oksana Kovalevskaya to our management team. In her new capacity, Ms. Kovalevskaya will be focused on executing on our strategy to further improve business efficiency levels, expand our operations into new geographical and vertical markets, and strengthen our leading position in the industry."

Prior to her M&A role, Kovalevskaya was executive director of the corporate development department at Sistema from 2004. From 2002 to 2004, Kovalevskaya served as deputy director for sales at NTV-Plus. From 1998 to 2000, she worked as a manager at Sonera’s office in Moscow. Kovalevskaya graduated from Moscow Engineering Physics Institute and holds an MBA from the University of Michigan Business School in the USA.

London-quoted Sitronics posted strong second quarter results with sales climbing 47% year-on-year to US$481m. Sitronics’ IT revenues contributed US$188.2m to the total – an increase of 35% for this segment year-on-year. Operating profit before depreciation and amortisation hit US$25.4m – a reversal from a loss of US$27.2m a year earlier in the second quarter of 2007. Sitronics recorded a 77% year-on-year reduction in net loss from US$51.9m to US$12m.

Sitronics offers telecommunication solutions, including software, equipment and systems integration, IT solutions and microelectronic solutions in Russia and the CIS with a strong presence in Central and Eastern Europe and a growing presence in the Middle East and Africa. Sitronics has vendor relationships with Siemens, Ericsson, Motorola, Oracle, Intel, Sun and Microsoft.

Sitronics IT arm signed US$51m in new contracts in the second quarter. Kvazar-Micro, an IT leader in Ukraine and one of the largest IT providers in the countries of CIS and Eastern-Europe, was integrated under the Sitronics brand in June 2008 and is now operating as Sitronics Information Technologies. The integration and rebranding followed the increase in Sitronics’ stake in Kvazar-Micro to 87% in March 2008. Kvazar Micro employs 1,500 people in 15 countries.

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