VSMPO-AVISMA and Boeing Conclude New Contract
Russia’s VSMPO-AVISMA and Boeing have signed a new contract for the supply of titanium components. This came in a statement by Rostec Director General Sergey Chemezov at the IDEX 2015 Defence Industry Exhibition.
The Russian and American companies plan to sign a contract for the construction of the second joint plant for processing titanium products in the near future. VSMPO-AVISMA is the world’s largest titanium producer that utilizes a full production cycle from raw material processing to finished products.
It should be noted that VSMPO-AVISMA produces semi-finished titanium parts for Boeing aircraft. VSMPO-AVISMA and Boeing started cooperating in 1993. At the moment, the Russian company provides Boeing with almost 40% of its titanium needs. In 2006, they signed an agreement to establish the Ural Boeing Manufacturing, a joint venture that processes titanium forgings. Total investment in the project amounted to $70 million.