Kryukiv Wagon ups output of passengers railcars by 2.5 times in 1Q11

Kryukiv Wagon (UX: KVBZ UK) produced five passengers railcars in January-March 2011, vs. two units in 1Q10, according to Interfax yesterday. Output was one unit in March. Vitaly Gorovoy: We note that the company signed contracts with Ukrzaliznytsya and Belarusian Railways to deliver 18 and 15 passenger railcars respectively in 2011. Thus, we expect the rate of production in coming quarters this year to accelerate.