Azovmash output increases 60% yoy in 1Q10

Azovmash, which includes Azovzahalmash (UX: AZGM UK) and Mariupol Heavy Machinery (UX: MZVM UK), said yesterday that its production over 1Q10 increased 60.0% yoy to UAH 1.2 bln in monetary terms, according to local news reports. During the first quarter, Azovmash made 2,554 freight railcars, 1.7x more than in 1Q09. The company said that demand for cisterns remains robust: manufacturing of those units grew 44.7% yoy.