OREANDA-NEWS. January 28, 2011. AzovElectroStal, a Ukrainian steel maker affiliated with Azovmash, has increased output by 2.4x yoy in 2010 (up to UAH 1.9bn), as posted on the Azovmash site on Jan 26. Company plans further expansion in 2011.

Millennium Capital considers the news as POSITIVE for Mariupol Heavy Machinery (MZVM), controlled by Azovmash. Earlier the latter announced plans to increase output of freight railcars by 1.2-1.5x yoy in 2011. AzovElectroStal’s production increase will guarantee supply of car casting to both plants in order to realize their volume plans.