Turboatom inks two equipment contracts
4 June 2008
Turboatom (TATM: BUY) said yesterday that it officially signed two separate contracts on June 2 to modernize equipment at Ukrainian Ukrhydroenergo and Georgian Varzikhe hydroelectric power plants. The value of the contracts was given at USD 12.4 mln and USD 2 mln, respectively. Inna Perepelytsya: We already accounted for these projects in our forecasts, and look for Turboatom to announce the official conclusion of more contracts in coming months. We forecast the company will achieve sales of USD 174 mln (up 2.5-fold yoy) by yearend.
