Dniprovahonmash Directs 2006 Net Income to Production

Dniprovahonmash’s (DNVM) AGM approved 2006 financial results. Sales fell in 2006 by 18.5% to USD 99.5 mln. Shareholders voted to not pay out a dividend from 2006 net income, but to direct the net income of USD 2.7 mln into developing production. The company plans to revive sales in 2007, with a target of +42.5% yoy. According to a company representative, production in 4M07 is up 174.4% yoy. Dniprovahonmash is the third largest producer of freight cars in Ukraine.