HRTR LD Pipe Production Up 52% mom In November

Khartsyzk Pipe (HRTR: BUY) produced 533.6 mt of large-diameter (LD) pipes in 11M, up 2.8% yoy.  In November the company produced 61.6 mt of pipes, a 52% increase mom. According to the company’s General Director, Andriy Shishatsky the company plans to ship 580 mt of pipes abroad in 2006, a new record for the company. HRTR also plans to increase production by another 20% in 2007. Andriy Gostik: HRTR’s plan to ship 580 mt tons of pipes abroad is right in line with our forecast of 581.6 mt for 2006.