Bogdan Corporation consolidates Hyundai sales in Bogdan Motors

Bogdan Corporations, the second largest automotive producer and dealer in Ukraine, announced that it will begin selling leading brand Hyundai at Bogdan Motors (UX: LUAZ UK) from 2011. This restructuring effectively adds a new segment to Bogdan Motors at no cost. The company estimates this will bring UAH 1,500 mln (UAH 0.5 per share) of additional revenue and UAH 200 mln (UAH 0.06 per share) to Bogdan Motors’ 2011 operating profit. The Hyundai brand accounted for 8.6% of new car sales in Ukraine in 10M10.