Sumy Frunze delivers on EUR 19 mln contract to Uzbekistan
9 November 2009
Sumy Frunze (SMASH) reported on Friday, according to Interfax, that it delivered three 16MW gas compressor units worth a total of EUR 19 mln to the Akhangaran compressor station in Uzbekistan. The order was signed in June 2008. Yegor Samusenko: The order is about 6% of Sumy Frunze’s 2009 order book, according to our estimates. We anticipate the company will earn USD 512 mln in sales in 2009E, implying 10% yoy growth. The news is neutral for the stock.
