SVGZ Announces 2007 Results & 2008 Plans
OREANDA-NEWS. On
SVGZ's investment program suggests an 18.8% increase in railcar output (to 6,600) in 2008. The CEO of SVGZ announced that the company's net income would increase by 67% or USD 16.53mn in 2008. To achieve this goal SVGZ will expand its fixed assets by USD 40mn, while the personnel will increase from a current 5,700 people (+54% y/y growth in 2007) to 6,700 in 2008. The main threats to these goals are the shortage of the specific kinds of batches and problems with VAT compensations. The CEO added that the company had signed two new contracts with partners from
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