OREANDA-NEWS. December 03, 2009. Khartsyzsk Tube Works < HRTR UK N/R >, the only Ukrainian producer of oil & gas large diameter pipes with an anticorrosive coating, raised its 11M09 output 1.5 times y/y to 504.216ktonnes, says the company's press-release. In November, the Company completed the fulfillment of the order for the gas pipeline project "Middle Asia - China", its total shipment under the contract being 547.57ktonnes.

Millennium Capital could estimate this news as positive for the Company, but this order was the only long term order in Company’s order book, and now HRTR switched to working in the spot mode. As result, the November output of the Company is only 68.5% of the October output. But Millennium Capital would like to point out that HRTR is a company with good dividend record, so we expect that this tradition will continue next year, too.