OREANDA-NEWS.  On 30 January 2008 Stirol announced that it will soon launch a granulated urea unit with an output of 700,000 tonnes per year.

Granulated urea is a valued-added fertilizer widely used in Western Europe and Northern America with prices around USD600 per tonne - significantly higher than for ammonia and ammonium nitrate. Ukraine's impending WTO entrance will open these markets for STIR. The company already announced the launch of such a unit in 2008 but this launch is now much more concrete. We see therefore this announcement as slightly positive for the stock and maintain our Accumulate recommendation with a target price of USD30.66.