Machinery

Machinery
June 18, 2010SMASH to supply Lukoil with five gas-pumping units

Sumy Frunze Machine Building [SMASH UZ, BUY], one of the leading machine-building complexes in Ukraine engaged in manufacturing equipment for oil and gas production, intends to supply Russian Lukoil five gas-pumping units between the end of 2009 and the beginning of 2010. Aggregates of 16 MW each will be installed at the Nahodkinskiy oil and gas field.

Machinery
June 16, 2010Transmashholding won the privatization auction on LTPL

The State Property Fund admitted only two companies to Luhanskteplovoz’s [LTPL UZ, BUY] privatization auction: the Bryanskiy Machinery Plant (a member of Transmashholding (TMH), Russia’s leading machinery holding) and Sumy Frunze [SMASH UZ, BUY]. Cyprian Mantara Holding, affiliated with the Privat Group, was not admitted to the auction because of a lack of information about the sources of the holding’s finances and because its financial statements had not been audited in accordance with national standards.

Machinery
June 15, 2010Privat dropped out of the LTPL’s privatization auction

The State Property Fund (SPF) admitted only two companies for Luhanskteplovoz’s [LTPL UZ, HOLD]] privatization auction (to be held today [June 15, 2010] at 10.30 [8.30 by Western European Time]): the Bryanskiy Machinery Plant (BMP) and Sumy Frunze [SMASH UZ, BUY]. Cyprian Mantara Holding, affiliated with the Privat Group, was not admitted at the auction due to lack of information about the sources of financials of the holding and financial statements audited by national standards.

Machinery
June 14, 2010TATM’s management announces expectations

Turboatom’s [TATM UZ, BUY] CEO, Viktor Subbotin, stated during a meeting with authorities that the company expects to earn UAH 1 bln (USD 126 mln) in revenues and UAH 155 mln (USD 19.5 mln) in net income during 2010.

Machinery
June 10, 2010KVBZ reduced its passenger car output by 32%

Kryukiv Railcar [KVBZ UZ, BUY], the leading Ukrainian freight railcar producer, and the only Ukrainian producer of passenger and subway cars, reduced its passenger car production in January-May 2010 by 32% (from 19 cars to 13 cars).

Machinery
June 8, 2010Motor Sich’s output continues to grow

Motor Sich [MSICH UZ, BUY] reported output of about UAH 1.46 bln in January-May 2009, reflecting YoY growth of 28.3%. According to the company, 92% of its sales were export-driven, the same 92% of sales that were attributable to aviation equipment.

Machinery
June 7, 2010Auto production in Ukraine increased by 1% in May

Ukrainian auto producers produced 6.8 thsd cars in May vs. 6.7 thsd in April. Zaz increased its production by 9% MoM (from 3.9 thsd to 4.2 thsd), AutoKrAZ [KRAZ UZ, U/R] showed a decline of 24% MoM (the plant produced 50 cars in May vs. 66 cars in April), and Bohdan [LUAZ UZ, U/R] showed a 16% MoM decline (from 1.5 thsd to 1.3 thsd). As a result, Ukraine’s automakers produced 24.2 thsd cars during the first five months of 2010, 19% fewer than a year ago.

Machinery
June 4, 2010Brunswick to place USD 455 mln order for Ukrainian railcars

Brunswick Rail, a leading Russian freight wagon leasing company and number five in Russia in terms of the number of railcars owned (11.6 thsd), announced its intent to attract USD 455 mln of debt and equity capital in the near future to finance its investment program, which implies a purchase of 7–8 thsd wagons in the next two years. According to Brunswick’s representatives, the company will place the order with Ukrainian railcar producers, who produce cars of the same quality as Russian producers, but less expensively.

Machinery
June 3, 2010Bohdan increased its output of buses and trolleybuses by 136%

Bohdan Corporation (represented on the stock market by its production division, Bohdan Motors [LUAZ UZ, U/R]), a leading Ukrainian auto producer, reported the production of 314 buses and trolleybuses in 5M2010, vs. 133 as a result of 5M2009; thus its YoY growth was 136%. Moreover, the company’s May 2010 production level of 92 buses and trolleybuses is 46% higher than production in April and 13 times higher than in May 2009.

Machinery
June 2, 2010Azovmash increased sales by 90%

Azovmash, the leading Ukrainian machinery holding, which specializes in freight railcars and equipment for metallurgy production, reported sales of about UAH 2.2 bln as a result of 5M2010, implying growth of 90% YoY. In particular, the company produced 4457 freight railcars (3757 of which are tanks and 700 are gondolas), which is twice as many as a year ago.

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