Russia, Moscow.
General Director of VSMPO-AVISMA Corporation Vladislav Tetyukhin
Photo: Grigoriy Sobchenko
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Boeing, VSMPO-AVISMA Set Up Venture
Russia’s VSMPO-AVISMA owns 50 percent in Ural Boeing Manufacturing, the venture that is set up in tandem with U.S. Boeing to handle titanium press parts, PRIME-TASS reported with reference to VSMPO-AVISMA.
The pari passu venture of VSMPO-AVISMA and Boeing is being established on facilities of Verkhnyaya Salda plant of Russia’s corporation. It will handle titanium parts produced by VSMPO-AVISMA under the Boeing-787 project. But the final processing will be made at Boeing facilities in Portland and by other subcontractors.
The venture is expected to deliver first product in 2008.
World's largest manufacturer of ingots and all kinds of semi finished items from titanium alloys, VSMPO-AVISMA Corp. makes product primarily designated for aerospace use. Its enterprises employ roughly 20,000. The corporation covers around 30 percent of global output of titanium sponge.
The corporation intends to invest up to $270 million in development this year, 2.5 fold up vs. 2006; titanium output is due to surge 13.5 percent on year to 27,000 tons.
Russia’s state exporter of defense product, Rosoboronexport owns 66 percent in VSMPO-AVISMA, 19 percent of stocks are in free circulation, individuals have 7 percent and VSMPO-AVISMA General Director Vladislav Tetyukhin has about 4 percent.
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