OREANDA-NEWS. April 07, 2010. According to a recent press-service release, Azovmash Concern has increased its sales by 60% to UAH 1.2bn in 1Q2010 as compared with the same period in 2009. The Company has produced 2,554 freight cars (which is 1.7 times more than it did in 2009). In addition to this, the Company has produced 1,400 tones of blast furnace, steel-smelting and cranage equipment.

Millennium Capital: this news is positive for Mariupol Heavy Machinery Plant <MZVM UK STRONG BUY> and Azovzahalmash <AZGM UK HOLD>, which are parts of Azovmash Concern. It also confirms Millennium Capital forecasts about a growing demand for railcar and heavy machinery products (You can find more detailed information on this subject in Millennium Capital Trade Idea "2010: …a run of good luck").