Sumy Frunze fulfills EUR 4.8 mln order to Belarus
12 November 2009
Sumy Frunze (SMASH) delivered about EUR 4.8 mln in equipment in October to Belarus for its underground gas storage facilities, Interfax reported yesterday. The company signed the contract in August 2008. Yegor Samusenko: The order is ~1% of 2009E sales, which we estimate at USD 512 mln. We don’t expect any reaction from the market to this news and view stock as overpriced.
