Russian machine building company United Heavy Machinery posted a 12 percent increase in preliminary 2002 revenues to $394 million. The figure is in line with Russian Accounting Standards, which differ from Western ones but are used by analysts to estimate trends. The company's earnings in accordance with GAAP are expected in the second quarter of 2003. The growth in sales came from acquisitions, which added $35 million to 2002 sales, accounting for 80 percent of the increase," Aton analysts said in a morning comment.
United Heavy Machinery produces ships and equipment used in the power and other industries, the Russia Journal reported.
The discovery of the submarine has unveiled a few "inconsistencies." For example, how can one explain the fact that the sub was found where it needed to be searched for from the start?
The TurkStream, which runs along the bottom of the Black Sea from Russia's Anapa to Turkey, will consist of two lines, each with a capacity of 15.75 billion cubic meters of gas a year