Luhanskteplovoz doubles output in 11M11 in value terms

Luhanskteplovoz (LTPL UK) nearly doubled its output yoy in value terms in 11M11, Interfax reported yesterday without specifying the exact values. In unit terms, the company raised diesel locomotive production by 51% yoy to 88 sections and doubled electric locomotive output to eight sections in the period. The company plans to complete assembly of a DEL-02 diesel train for Ukrzaliznytsya and manufacture locomotives for Russia in December. Roman Dmytrenko: The output growth this year is largely due to an order from Mongolia, which accounted for 52 diesel sections; vs. 36 units produced for Russia this year (-34% yoy). We expect the manufacturer to produce eight more diesel sections in December, which would bring its total for the year to 96 (+45% yoy). We estimate Luhanskteplovoz will generate USD 170 mln in revenue in 2011, up 56% yoy.