OREANDA-NEWS. September 18, 2009. Kryukiv Wagon (KVBZ) received a 30 subway car order from the Kyiv Metro, Ukrainian News reported this morning. Kyiv's subway system had initially planned to buy 50 cars from Kryukiv. Kyiv Metro has been operating a prototype train from Kryukiv on its Syretsko-Pechersky line since January.

Concorde Capital: This new order is welcome news for Kryukiv, which saw its sales contract 4x in 1H09 to UAH 435 mln. The previous tender from Kyiv Metro announced earlier in summer was annulled by a local court. We estimate the value of the new order at UAH 210 mln. We expect Kryukiv Wagon to end 2009E with sales of UAH 1.08 bln, a 67% drop over 2008 in UAH terms.

Concorde Capital is a full service investment bank operating on the Ukrainian, Russian and CIS markets. In 2007 Concorde Capital’s analytical team was recognized as the Top Team covering Ukraine by Thomson Extel's Pan European Survey. Senior Analyst Alexander Paraschiy was recognized as the Leading Pan-European Investment Analyst – European Emerging Markets. Concorde Capital is a leader when it comes to private placements and M&A deals. Concorde Capital’s sale of a stake in Electron Bank to Volksbank International AG was named the Best Ukrainian M&A deal of the year 2007 by the Adam Smith Institute.