Machinery

In 2010 Motor Sich [MSICH UK] has increased net profit by 68.6% YoY to USD 150.9mln or USD 75.6 per share.

Bogdan Corporation, owner of Bogdan Motors [LUAZ UK], has announced its plans for 2011. This year, the company plans to raise its bottom line above zero, increasing car sales by at least 50%. Export is expected to double this year to 20 thsd units. The company expects car production to gain 51.5%, reaching 45 thsd units, while bus and trolleybus production will increase by 19.7%, reaching 1.1 thsd units.

Turboatom [TATM UK] has handed over equipment with an overall volume of USD 2mln to Starobeshivska HPP, a member of Donbassenergo [DOEN UK], within the frames of a contract on generating plant block №5 modernization.

Metinvest Holding, the largest Ukrainian metallurgic company, has announced plans to issue 7-10 year Eurobonds with an overall volume of USD 500 mln. The road show is to start on January 25th. Bond issue was organized by Credit Suisse, Deutsche Bank, ING, RBS, and VTB Capital. Fitch has set a preliminary B rating for the bonds.

Bogdan Corporation, the owner of Bogdan Motors [LUAZ UK], has disclosed information regarding a recent acquisition of a 10% share of Cherkassy Bus from Bogdan Motors. The purchaser turned out to be Ukrainian Automobile Holding, another member of the Bogdan Corporation.

In 2010, Luganskteplovoz [LTPL UK] increased its production more than 2.3 times YoY to over USD 125 mln. The plant produced a total of 74 locomotive sections, which represents a 2.1 YoY increase.

In 2010 Kryukivka Carriage [KVBZ UK] has increased production of freight cars 2.7 times YoY to 9 079 units.

Luganskteplovoz [LTPL UK] has concluded a contract to receive a RUB 1bln (USD 32.8mln) credit at 8.1% interest from Kolomensky Zavod (Russia).

According to 2010 production results for Stakhaniv Carriage [SVGZ UK], the company has increased its output of freight cars 4.7-fold YoY, from 1 584 to 7 434 units. This result is not only the highest on record for the 45 years of the plant’s existence, but also represents one of the fastest recovery rates in the Ukrainian economy.

Prominvest bank has opened a credit line with total volume of USD 35 mln for Gornie Mashini – a major owner of 5 mining equipment producing companies including Donetskgormash [DGRM UK] and Druzhkovka Machinery [DRMZ UK] for increasing circulating capital.