AvtoKrAZ Wins Tender For Delivery Of 64 Trucks To Ukrgazvydobuvannya And 36 To Egyptian Defense Ministry.

Ukrgazvydobuvannya is the daughter company of Naftogaz-Ukrayiny. Thirty of the 64 trucks will be delivered in September. The order from Egypt is part of the country?s plans to modernize its military fleet of heavy trucks. When Ukraine was part of the Soviet Union, Egypt was a traditional buyer of KrAZ trucks. Since 1961 the company has exported over 3,000 trucks to Egypt. Concorde Capital: AvtoKrAZ increased output by 85.4% in January-August yoy to 2,310 trucks. Nevertheless, we expect it to produce ~10% less trucks than the 4,150 we initially projected for 2005 as the large Iraqi contract, expected in April, is still pending. To some extent the planned deliveries to Iraq have been substituted by higher than expected exports to other countries.