AvtoKrAZ 2M Sales Surge 2.5 Times yoy

AvtoKrAZ (KRAZ: HOLD) announced yesterday that its truck sales grew 2.5 times yoy in 2M07 to 617 vehicles. In addition the company boosted its truck output 46% yoy in 2M07 to 641 vehicles. KRAZ also saw its automobile output grow 52.5% yoy in February to 340 cars. Last week KRAZ signed a deal to provide 100 large trucks to the Algeria government. As part of the deal KRAZ will be the only official dealer of KRAZ trucks in Algeria. Olha Pankiv: The company is following its strategy to diversify exports to the developing world. KrAZ’s successful start this year supports our projections of 31% growth in truck production to 4370 units.