OREANDA-NEWS. August 4, 2010. Metinvest and Interpipe were named the winners of a UAH 290 mln tender to supply Ukrtransgaz, a state-run subsidiary of Naftogaz of Ukraine, with steel pipes, according to an announcement by the Ministry of Economy. Ukrtransgaz signed a UAH 208.0 mln contract for 8.5 ths mt of pipes with Metinvest and UAH 82.1 mln contract for 3.7 ths mt of pipes with Interpipe.

Concorde Capital: this news is moderately positive for Khartsyzk Pipe (UX: HRTR UK), a pipe producer within Metinvest Group. The volume of 8.5 ths mt of pipes is equal to only 57% of the company’s output in July. We keep our BUY recommendation on the stock with TP of UAH 2.5 (current market price UAH 1.21).