Azovmash Continues to Post Strong Sales in July

Azovmash, the holding company for Azovzahalmash (AZGM: BUY) and Mariupol Heavy Machinery (MZVM: BUY), posted a 23.1% yoy boost in sales in 7M07 to USD 449.7 mln in value terms. Azovmash boosted sales 26.4% yoy in 6M07. Exports continued to make up a large portion of the sales (69.2%). The holding has produced 5,517 freight cars and platforms in real terms for the first seven months of the year. Azovmash also announced yesterday that it began the production of car carriers which already have demand from Russian transportation companies, a move that further diversifies its product portfolio.