AvtoKrAZ plans to increase sales by 2.3-2.8x y-o-y in 2011
24 January 2011
AvtoKrAZ (UX: KRAZ UK), the Ukrainian producer of heavy trucks, plans to increase its output by 2.3-2.8x y-o-y in 2011 to 2,400-3,000 trucks. The company plans to export 80% of its vehicles this year. The company sold 1,063 trucks in 2010; plans it announced in early 2010 to make 2,500 trucks last year were undermined by a weak market. Yegor Samusenko: Though AvtoKrAZ’ plans look realistic, even if the company achieves its target, we do not see a positive effect for minority shareholders due to profit transfer schemes practiced by the company.
