Azovmash Railway Carriage Production Up 2.9% qoq.
10 October 2008
Azovmash Railway Carriage Production Up 2.9% qoq. In 3Q05 Azovmash?s railway carriage production slightly improved and totaled 2,293 cars. However, the company has produced 6,307 railcars ytd, a fall of 10.3% yoy. The decline is connected to the company?s switch from the production of petrol cisterns to liquefied gas cisterns, which are 1.4 times more labor-intensive. Azovmash is the managing company and sales agent for the Mariupol Heavy Machinery Plant (MZVM: BUY) and Azovzahalmash (AZGM: BUY). These companies are major producers of railway carriages and products for metallurgy and mining. Nearly 71% of Azovmash?s output was exported in 1H05.
