Sistema' AFK, Russia's largest service technological holding, intends to open business in Azerbaijan. Alexander Goncharuk, who has been heading the company since spring 2006, made the statement at an interview for the Russian Daily newspaper Kommerzant, Trend reports.
He noted that the company has serious plans to do business in Azerbaijan, Kazakhstan, as well as all CIS countries, except Tajikistan. Azerbaijan is definitely part of our plans. Kazakhstan is of great interest to us and there is hope to become consolidated there shortly, Goncharuk stated.
The Stock Financial Corporation Sistema', founded in 1992, is the biggest diversification company in Russia and in the CIS. The Corporation specializes in market services and provides services to over 60mln consumers.
At present the company owns and manages the stock package of related companies with a high growth rate: telecommunications (MTS, MGTS, Komstar Unified Tele-systems), top technology (Sintronix, NIIME and Micron plant, Strom-Telecom, Kvazar-Mikro), insurance (ROSNO), property (System-Gals), banking sector (International Bank for Reconstruction and Development), retail trade (Baby Shop), media (System Mass-Media). Furthermore, Sistema holds assets in other fields: tourist business (Intourist) and radio engineering (RTI Systems).
Last year the company's incomes rose 32.4% as compared to 2004 and comprised $7.6 bln, while net profits increased approximately 30% and made up $534 mln. The cost of assets reached $13 bln by the end of 2005.