April 26, 2010MZVM posts USD 21 mln net loss in 2009: NEGATIVE
Mariupol Heavy Machinery [MZVM UZ, SELL], a Ukrainian producer of freight railcars and steel equipment, a member of the Azovmash– leading Ukrainian machine building holding, posted UAH 167 mln of net loss in 2009 vs a net loss of UAH 28.9 mln in 2008. The net sales of the Company decreased by 66.7% YoY (from UAH 2,149.9 mln in 2008 to UAH 1,071.4 mln in 2009). According to the Company, in 2009 production included 90 open cars (vs 3.06 thsd in 2008), 11 box cars (vs 447 in 2008) and 84 platforms (vs 766 in 2008). Plant capacity in freight railcars was only 4.5% utilized, while capacity in steel equipment manufacture was 25.5% utilized.