Kryukiv Wagon’s output rises 3.8x yoy in 1Q10

Kryukiv Wagon (UX: KVBZ UK) reported on Friday that in 1Q10 it produced 1,938 freight railcars, an increase of 3.8x yoy, Interfax said. The manufacturer built only two passenger wagons during the quarter, vs. 11 in 1Q09. Kryukiv is targeting annual output of 6,000 railcars this year. Yegor Samusenko: The growth in output is due to revived demand for freight railcars, which reappeared in 4Q09 after being weak in 4Q08-3Q09. Kryukiv’s current output is above that posted in 2008, thus we see 2010 as prominent for the railcar manufacturer and expect it to exceed its forecasted output of 6 ths railcars. We are currently reviewing our targets for Kryukiv Wagon and other railcar manufacturers.