Mariupol Heavy Machinery Plant

Transportation machinery showed the fastest output growth in 2007
(42.3%) and its dynamics is not expected to slow down markedly in
2008. Mariupol Heavy Machinery Plant, a part of Azovmash Group, has successfully launched the mass production of automobile
transportation railcars in 2008. It is expected to bring almost $200 mn
in sales in 2008.

MZVM successfully supplies converters and other steel plant equipment to a large market. As Ukrainian steel plants modernizing
their facilities to replace their outdated open-hearth furnaces with
converters, MZVM is expected to benefit as one of the largest producer in CIS. It is capable of supplying up to 30% of the converters
required by the CIS market.