Machine Building Output Up 28% in 11M07 yoy

According to the Economy Ministry, machine building output climbed 28% in 11M07 yoy placing Ukraine in top-5 globally in terms of machine building output growth, along with Germany, Japan, Korea, and France. In 11M07 the industry manufactured products worth USD 7.2 bln. The most significant contributors were transport machine building (42% in 11M07 yoy), construction machinery (41% in 11M07 yoy), agriculture machine building (37% in 11M07 yoy) and power engineering (15% in 11M07 yoy). In related news representatives of Konstantin Grigorishyn’s business group noted that current rapid growth is a result of economic upturn both in Ukraine and in other CIS countries. Inna Perepelytsya: The stock market has rewarded machine building companies with triple digit aggregate YTD capitalization growth. We expect another double digit growth in machinery sector production in 2008-2009.