Ukraine Opens Antidumping Investigation Against Russian & Belarus Tire Imports.

The leading local producer of automobile tires, Rosava, complained that in 2005 Russian rivals were undercutting Ukrainian incumbents by exporting tires at 10%-44% below prices on the Russian market. As a result, Rosava had to decrease its tire output and sales in 2005 by about 25% and 34% yoy respectively. Concorde Capital: We believe the major reason Russians are elbowing their way onto the Ukrainian market is because they are being pushed out at home by global majors. The same is happening in Ukraine, local producers are facing stiffer competition form Russian and global rivals. We expect Ukrainian tire makers to continue to lose their market share.