Машиностроение

Stakhaniv Railcar Works [SVGZ UZ, BUY], at their EGM on October 06, has approved a share issuance that was held from July 08 to July 29 of this year.

President Viktor Yushchenko effectively unblocked the privatization of a number of large Ukrainian state-controlled companies, the details of which are which are outlined in Decree #874 and #878, both dated September 29.

The State Property Fund (SPF) of Ukraine has announced the illegitimacy of the decision made earlier by Ukraine’s Cabinet of Ministers about transferring the controlling stake in AZOVMASH to the Cabinet of Ministers.

AZOVMASH intends to deliver a converter with a capacity of 140 metric tons to the metallurgical company "Dunafer" by 2010.

Ukraine’s Cabinet of Ministers made a decision to take the state’s corporate rights in AZOVMASH into its hands.

Since the beginning of the year, AZOVMASH, the leader of heavy machinery in Ukraine, has demonstrated UAH 4.5 bln in sales.

Motor Sich [MSICH UZ, U/R], the only Ukrainian company that is engaged in the development, production, testing and repair of modern aviation engines, plans to open an engine repair plant in the city of Dubne (Russia) before the end of the year.

According to a company representative, Kryukiv Railcar [KVBZ UZ, BUY] intends to launch maintenance centers for freight and passenger railcars in Kyiv and Kharkiv.

During the period January-September, 2008, the Kremenchuk Road Machine Plant, otherwise known as the Joint Stock Company Kredmash, increased its output of asphalt mixing machines by 40% YoY, reaching a total of 92 units. In all, during 2Q08, the plant produced 30 asphalt mixing machines and soil mixing plants. The company plans to achieve a production of more than 100 asphalt mixing machines by the year end. The Russian Federation remains the largest consumer of Kredmash’s products.

Avantazh Corporation is initiating a private placement of 15% of its shares in Nov-Dec 2008.