Azovmash Supplies Iran with 50 Platforms for Freight Car Construction

Azovmash, managing company for Mariupol Heavy Machinery (MZVM: BUY) and Azovzahalmash (AZGM: BUY), has delivered 50 platforms for the construction of closed-bottom gondola freight cars to the Iranian company Mobarez, which plans to assemble freight cars on the platforms itself. The volume of the deal and other details about their cooperation agreement has not been released by Azovmash. Olha Pankiv: If Azovmash also delivers freight carriages to mount on the platforms, it would add USD ~2 mln in sales to the holding. The holding views Iran, which is undergoing major renovations in its rolling stock sector, as a potential destination for more Azovmash deliveries.