LuAZ Cuts Output By 1.2% MoM In Feb

Output was reduced to 1,984 automobiles in February, continuing the company’s mom output decrease which fell 10.35% in January. Nevertheless, the company increased output by 87.1% yoy in Jan-Feb to 3,993 automobiles. Additionally, two enterprises, which were incorporated into LuAZ starting Feb 15, produced 35 Bogdan buses and one truck BJ-1046. Concorde Capital: The company enjoys VAT and import tariff privileges, after the government officially approved its investment program in Jan. The program foresees an approximately two fold increase in car, truck and bus output by 2008, from 47,400, 6,500 and 3,400 units respectively in 2004.