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AvtoKrAZ (PFTS: KRAZ) raises production by 19% yoy in January-May 2011

In January-May 2011, “AvtoKrAZ” holding (PFTS ticker: KRAZ), single Ukrainian producer of heavy-load vehicles, increased production by 19% yoy, to 331 unit. In May 2011, the enterprise produced 30 vehicles, which was by 63% lower than in April 2011. In 2011, “AvtoKrAZ” plans to sell from 2400 to 3000 vehicles relying on exports growth as the main factor of sales increase (the expected share of exports is fixed at 80% level). The growth rate of Ukrainian market of heavy-load vehicles, forecasted by the company, varies from 7%-10% (pessimistic scenario) to 20%-25% (optimistic scenario). In 2010, “AvtoKrAZ” has sold 1063 vehicles and has increased net sales more than twice (comparing to 2009), to UAH 605.36 mln.