Azovmash Continues Boosting Sales, Production in May

Azovmash, the holding company for both Mariupol Heavy Machinery (MZVM: BUY) and Azovzahalmash (AZGM), continued increasing sales in 2007, posting USD 0.3 bln in 5M07 (+22.8% yoy) to keep pace with its 4M07 boost of 22% yoy. Azovmash also lifted production in 5M07 by 24.5% yoy (mirroring its 4M07 production hike of 23.2% yoy). The company looked to meet growing demand as it churned out 28.9% more railcars in 5M07 or 3,852 freight cars and platforms in real terms (tank cars, of which the Azovmash companies are the only producers in Ukraine, grew 20% to 2,418 units).