Stakhaniv Wagon targets 4.5x yoy output increase in 2010

Stakhaniv Wagon (UX: SVGZ UK) is planning to raise its output by 4.5x yoy in 2010, Interfax reported yesterday, citing a company filing with the State Securities and Exchange Commission. Stakhaniv said it plans to load its capacities 65% in 2010, vs. 13% in 2009. The railcar maker also reported that its 2009 net revenues amounted to UAH 457.0 mln, a decrease of 3.9x yoy. Yegor Samusenko: The targeted growth in output is driven by revived demand for freight railcars in Russia, the main buyer of Ukrainian railcars. Stakhaniv management’s plan is in line with posted output in 1Q09, when company produced almost 1.8 ths railcars, which is already more than its annual output of 1.5 ths wagons in 2009.