OREANDA-NEWS. March 5, 2010. Indian Air Forces are to modernize 105 AN-32 model aircrafts within the next three years at Antonov Plant. The order also includes full replacement of engines at most aircrafts. MotorSich <MSICH UK BUY> is to deliver engines for the Indian Air Forces for a total worth of USD 400mn. According to the contract that had been signed earlier, the Company is to produce 250-300 engines.

Millennium Capital sees this news as being strongly positive for MotorSich, just as any other news about new orders arrival. Millennium Capital points out that this order constitutes on average about 50% annually of the estimated 2009 sales level of the Company for the next two years.