OREANDA-NEWS. March 10, 2010. Vyksa Metallurgical Works looks to step up pipe sales 25% in March, Metal Courier announced on March 10 with reference to the company’s official sources. The company targets pipe sales of 200,000 tons in March, compared to the 309,000 tons sold in the first two months of the year.

In all of 2009, the company produced 1.5 million tons of pipes and if the production levels achieved so far this year are maintained throughout 2010, the company may report an annualized production growth of 25-30%. On the upside, we also note that the company has been picked as Russia’s only supplier of large-diameter pipes for the second stretch of the Nord Stream pipeline.

Company spokespersons point out robust demand from the oil & gas sector in practically all key pipe segments, while also noting persistently weak demand for construction pipes.

We are upbeat on prospects for growth in the company’s production and financial indicators in 2010 and believe that the news about the potential growth in March sales may serve as a local driver for its stock valuations. We currently have no official rating for Vyksa Metallurgical Works shares.