Azovstal to increase production 29% yoy in 2010

Azovstal (UX: AZST UK) plans to increase its output of rolled steel products by 29% yoy to 5.5 mln mt in 2010, the company said in a filing yesterday. It also intends to up production of crude steel by 20.5% yoy to 5.6 mln mt and pig iron by 21.1% yoy to 4.9 mln mt. The steelmaker also reported its 2009 financial results: net revenue of UAH 15.7 bln (down 26% yoy) and a net loss of UAH 211.9 mln (vs. net income of UAH 2.0 bln in 2008).