Machinery

Motor Sich [MSICH UZ, U/R] plans to pay out UAH 5.9 mln in dividends for 2009, which amounts to UAH 3.1 per share. This decision was taken by shareholders at the Company’s general meeting, held on Wednesday, March 24.

Kryukiv Railcar [KVBZ UZ, BUY], leading Ukrainian railcar producer, reported on the successful shipment of a subway train to the Kyiv Metropolitan subway. The train consists of two main cars (model 81-7021), and three intermediate cars (model 81-7022). The value of the contract has not yet been disclosed.

The Kyiv Metropolitan subway has announced its intention to purchase 100 subway cars via financial leasing (via the company Ukrrosleasing). It is planned that 75 cars are to be produced by Russian companies and 25 by Kryukiv Railcar. The

Kryukiv Railcar [KVBZ UZ, BUY], a leading Ukrainian producer of both freight and passenger railcars, reported a decline in output of passenger cars in January-February 2010 by four times. At the same time, the output of freight railcars rose three-fold in the same period.

Sumy Frunze Machine Building [SMASH UZ, U/R], the leading CIS manufacturer of machinery equipment for the oil and gas industry, has successfully delivered three gas turbine blocks to the Russian-based Surgutneftegaz. The equipment is designed for one of the client’s power plants and has an aggregate power of 36 MW. The purpose of the equipment is to utilize the associated gas for producing electricity (earlier, Surgutneftegaz burned associated gas in flares.

The Economic Court of the Kharkiv Region has fully satisfied the claim of one of Turboatom’s minority’s shareholders (Svarog Asset Management), which declared the decision taken by TATM shareholders at its AGM (held on February 4, 2010) to be invalid. In particular, as a result of this decision, the dividends payment that was adopted at the AGM was blocked (the shareholders had decided to pay out UAH 44.1 mln in dividends).

AvtoKrAZ [KRAZ UZ, N/R], a Ukrainian producer of heavy trucks, has reported a decline in February production by 99.1% MoM (the Company produced only one car). At the same time, ZAZ, a leading Ukrainian auto manufacturer, reported a rise in production by 194% MoM, as the Company produced 770 cars in February vs. 262 in January.

The Zaporizhia Auto Plant, a leading Ukrainian automobile producer, reported a net loss of UAH 158.8 mln (approx. USD 19.9 mln) in 2009. This compares to the UAH 390.6 mln net loss posted by the Plant in 2008.