Kryukiv Wagon to make 3.3 ths railcars in 2009

Kryukiv Wagon (KVBZ) is on track to make 3,300 railcars in 2009, Interfax reported on Friday, citing the company’s press office. The figure represents a yoy decrease of twofold.  Yegor Samusenko: The annual production figure was in line with our expectations. Kryukiv Wagon was the first among domestic railcar producers to raise monthly production in 4Q09 above the pre-crisis (2002-2008) average, thanks to renewed demand for freight railcars. In 2010, we estimate the company’s output at 5 ths railcars. We remain positive on KVBZ; we rate it BUY with a target of USD 3.5 per share.