Azovmash To Increase Sales By 11% In 2006 To USD 627.5 mln.
6 January 2008
The managing company for Mariupol Heavy Machinery (MZVM: BUY) and Azovzahalmash (AZGM: BUY) also plans to increase production by 7.7%. The company’s management says that their plans are based on their existing orders and the increase in the types of railway carriages it produces. Last year it designed 17 new models, including two, which it placed in serial production. Concorde Capital: Over 80% of Azovmash’s output is exported, and Russia is the largest buyer. Large deliveries are planned to Iran, following the company’s signing of a long-term cooperation program with Iranian state railways and private transportation companies last year. Late last year Azovmash also won a tender to supply EUR 2.6 mln worth of equipment to Alchevsk Iron and Steel (ALMK: BUY).
