MZVM Holding Company Reports 20% Surge Sales In 2M07

Azovmash, the holding company for Mariupol Heavy Machine Building (MZVM: BUY) and Azovzagalmash (AZGM) reported sales of USD 104 mln in 2M07 a jump of 20% yoy. The company’s freight car production also increased by 33.8% yoy and accounted for USD 98 mln. Nearly 70% of Azovmash’s output is exported and Russia, Azerbaijan, Germany, Hungary, and Turkey account for about 80% of the company’s exports. Azovmash set a new sales record in 2006,  the company increased sales by 7.2% yoy to USD 594 mln in 2006 and  more than doubled its output of oil & gas cisterns to 2611 carriages.