Motor Sich order book to benefit from Russia’s Defense program in 2015-2020

Yesterday Russian Defense Minister Anatoliy Serdyukov, announced the plans to buy An-70 and An-124-100 ‘Ruslan’ aircrafts in 2015-2020, engines for which are produced by Motor Sich (UX: MSICH UK),according to Interfax. Russian military program foresees purchasing 60 An-70 aircrafts in 2015-2020, while the exact amount An-124-100 ‘Ruslan’ is not disclosed. Vitaly Gorovoy: This announcement confirms our bullish view for MSICH’s stock, however we consider this news to be already priced-in MSICH’s shares.