Azovmash 9M Output Up 7.6% yoy To $455 mln.
10 October 2008
The company announced that production was up in 9M 7.6% yoy. Azovmash’s production of freight cars and cisterns was up 5.2% and 32.7% yoy in 9M. Azovmash is the holding company for Azovzagalmash (AZGM: BUY) and Mariupol Heavy Machinery (MZVM: BUY). Olha Pankiv: The repeated delays of the state’s sale of its 11% stake in MZVM have no affect on the company’s value. We still see a 100% upside in the stock.
