Machinery

Donetskgirmash [DGRM UZ, N/R], a large Ukrainian producer of mining machinery, has produced a net loss of USD 835 thsd (UAH 4.426 mln) in 2008, which is 8.1 times lower in UAH terms or 8.6 times lower in USD terms than reported in 2007.

Druzhkivka Machinery [DRMZ UZ, U/R], one of leading producers of mining equipment in the CIS, has increased its net profit for 2008 to USD 0.1 mln.

The Kharkiv-based Svitlo Shakhtarya Machine Building Plant [HMBZ UZ, HOLD], one of the largest CIS producers of scrape conveyors used in coal mining, has increased its net profit to USD 9.1 mln (UAH 48.501 mln, the AoP at USD/UAH 5.3 for 2008 and 5.05 for 2007) in 2008, which is 56% higher in UAH terms or 48% more in USD terms than was reported in 2007.

Ukraine's Bogdan Corporation may set up a joint venture in Russia for the production of trolleys and subway cars, together with Saint Petersburg's ‘Vagonmash’ company.

Sumy Frunze Machine Building [SMASH UZ, N/R], one of largest European producers of equipment for the oil, gas, and chemical industries, has reported that it finished 2008 with at a loss of USD 30.6 mln (UAH 162.342 mln).

New data issued by the press service of the Bogdan Corporation indicates that the Bogdan Automobile Plant [LUAZ UZ, BUY] boosted production in February, compared to January 2009, by 132%, representing an increased from 1,604 to 2,818 cars. In February, the plant manufactured 321 KIA cars, 222 Hyundai cars, and 2,275 VAZ cars.

The Kharkiv-based OJSC Turboatom [TATM UZ, HOLD] – the largest turbine manufacturer in Ukraine – has signed a new contract valued at USD 19.5 mln (UAH 150 mln using the exchange rate of UAH 7.7 per USD).

Kryukiv Railcar [KVBZ UZ, U/R] released its official preliminary 2008 financials on March 4. Highlights of the P&L (using exchange rates of USD/UAH 5.27 for FY08 and 5.05 for FY07) include net income at USD 75.9 mln (up 91.6%).

Sumy Frunze Machine Building [SMASH UZ, N/R], one of largest European producers of equipment for the oil, gas, and chemical industries, has reported that it has secured a new contract with the Russian company ‘PH-Purneftegaz’, which is a second largest subsidiary of the petroleum company ‘Rosneft’.

Dniprovagonmash [DNVM, U/R], the large domestic carriage producer owned by TAS Group, has announced its financial results for 2008.