OREANDA-NEWS. January 25, 2010. According to a press-service release, Turboatom   intends to invest UAH 31 million in technical upgrading of its facilities in 2010.The Company has already signed a contract with the IMF company of Italy to supply equipment for its smelting facility in December 2009. TATM also intends to modernize its thermal gas and steel smelting furnace, which will help improve the quality of thermal processing and reduce the consumption of natural gas and electricity.

Millennium Capital sees this news about the modernization plans as positive for the Company, because it will reduce its variable costs on the background of expectations of further price hikes for energy resources in 2010. This will see to a continued positive dynamics of the Company’s financial performance growth achieved in 2009 (in 2009, TATM had increased its Net Income by four times, and its Net Sales grew by more than 2.5 times).