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February 23, 2010
LUAZ posts net loss of UAH 622 mln in 2009

Bohdan Motors [LUAZ UZ, U/R] posted a net loss of UAH 621.6 mln (USD 77.8 mln) in 2009. The Company’s net sales dropped by 82% from UAH 6.9 bln to UAH 1.2 bln.

February 23, 2010
Azovmash to deliver convertor to Algeria

Azovmash has announced that it intends to deliver a convertor to the company Mittal Steel Annaba (Algeria). The equipment’s delivery is slated for the end of 2010. The value of this contract has not yet been publicly disclosed.

February 22, 2010
SMASH reports UAH 403 net income

Sumy Frunze Machine Building [SMASH UZ, U/R], the leading CIS manufacturer of machinery equipment for the oil and gas industry, reported a net income of UAH 403 in 2009. In 2008, the Company had posted a UAH 149 mln net loss, mainly due to the revaluation of FX-denominated loans, which resulted in financial losses in the amount of UAH 161 mln.

February 19, 2010
AvtoKrAZ completes successful delivery to Russia

AvtoKrAZ [KRAZ UZ, N/R], a Ukrainian producer of heavy duty automobiles, has successfully supplied a shipment of 30 vehicles to a client in Russia. These autos are intended for use in the process of installing oil and gas equipment.

February 18, 2010
Azovmash posts UAH 2.6 mln net income

Azovmash, the managing company of Mariupol Heavy Machinery [MZVM UZ, BUY] and Azovzagalmash [AZGM UZ, SELL], posted a UAH 2.6 mln in net income in 2009 (vs. UAH 2.4 mln in 2008). The Company’s net sales increased to UAH 76.6 mln (vs. UAH 68.8 mln in 2008).

February 17, 2010
Luhanskteplovoz plans to increase output two-fold

Luhanskteplovoz [LTPL UZ, HOLD], a Ukrainian locomotive producer, intends to increase its production output by more than two times in 2010. According to LTPL’s Chairman of the Board, the Company expects to realize such growth on account of orders from Russian Railways (RZD), Ukrzaliznytsia (UZ), Kazakhstan Railways (KTZ), and their Mongolian equivalent.

February 16, 2010
Azovmash delivers equipment to Azovstal

Azovmash, the largest Ukrainian machinery holding, has reported on the successful shipment of two charging devices to Azovstal. Azovmash did not disclose the monetary value of the agreement.

February 15, 2010
UkrAVTO reports 2009 net income of UAH 5.3 mln

UkrAVTO [AVTO, U/R], one of the largest auto retail companies in Ukraine, reported UAH 5.3 in net income in 2009. In 2008, the Compnay posted a UAH 116.8 mln net loss. The Company also announced its upcoming shareholders’ meeting, which is scheduled for April 6.

February 12, 2010
Turboatom to deliver equipment to Vietnam: POSITIVE

Turboatom [TATM UZ, BUY], Ukraine’s largest turbine producer, intends to supply turbine equipment to the Thailand-based Thak Ba HPP. The shipment according to this current deal is to be completed in 2011.

February 12, 2010
Sumy Frunze to deliver equipment to Gazprom: POSITIVE

Sumy Frunze Machine Building [SMASH UZ, U/R] has announced that it plans to deliver compressor equipment for Gazprom worth a total value of USD 30 mln, as reported by the Company’s press service. According to the terms of this contract, SMASH is to produce three GPU with a total power of 48 MW, as well as ten units of compressor equipment for GPU modernization.

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