Bogdan Corporation CEO: we might turn a profit only in 2013
23 September 2011
Bogdan Corporation, owner of Bogdan Motors (UX: LUAZ UK, U/R), will remain a loss-making enterprise in 2011-2012, Interfax reported yesterday citing comments made by CEO Oleg Svinarchuk. Bogdan is targeting 60% capacity utilization by the end of 2012 – beginning of 2013 (vs. only 20% now). We place our recommendation and target price for Bogdan Motors Under Review.
