Mariupol Heavy Machinery (MZVM) Increases Net Revenues

The company’s net revenues rose by 39.9% to USD345.5 mn in 2004, net income falls by 6.6% to USD 0.08 mn. Railway car output made up 31% of the company’s total USD 238.5 mn production, steel-making equipment made up 19% of production. The company also produces cranes, gas and electric stoves and boilers. A total of 50% +1 share of MZVM belongs to Azovmash, 19.5% to Ardemar Marine Limited (Cyprus), 11% to the State Property Fund.