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| Thursday, December 27, 2007 |
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RUSSIA’S BIGGEST TITANIUM SUPPLIER
By FlyingNews @ 7:01 AM :: 138 Views ::
0 Comments :: Commercial Aircraft Manufacturers
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On 27 December this year in Moscow in the presence of Director General of the "Russian Technologies" State Corporation, Chairman of the Bureau of the Russian Union of Machine-Builders and Chairman of the VSMPO-AVISMA Corporation’s board Sergei Chemezov and US Ambassador to Russia William J. Burns took place the contract signing ceremony. The VSMPO-AVISMA Corporation has signed a contract with the Boeing Company to supply titanium mill products in 2011-2015. The contract value exceeds more than US$ 1 billion.
On the Russian side, the contract was signed by Director General of VSMPO-AVISMA Corporation Vladislav Tetyukhin, on the US side by President of Boeing Russia/CIS Sergei Kravchenko.
VSMPO-AVISMA Corporation is the world’s biggest manufacturer and Russia’s sole producer of titanium sponge and various titanium products. Titanium products are vital both to our country and the whole world community, especially for aircraft, space and other hi-tech industries. I’m very glad that this important and big contract, arranged under the aegis of Russian Technologies is a major component of these plans.” Boeing’s intention to invest heavily in titanium production was confirmed in a framework agreement reached between the two Corporations in August 2007.
In spring this year, VSMPO-AVISMA and Boeing set up Ural Boeing Manufacturing (UBM), a 50/50 equity joint venture, in the town of Verkhnya Salda, Sverdlovsk region, Russia, to produce titanium parts for the Boeing 787 Dreamliner aircraft. High precision processing US-made production equipment has been already purchased by the partners and preparation for its commissioning is underway. As a result, Boeing Russia/CIS will be directly involved with production of titanium parts for aircraft applications, whereas VSMPO-AVISMA will get access to advanced precision machining processes that will allow it to make final titanium products. Waste associated with titanium machining will be recycled directly in Verkhnya Salda. The range of products will expand and their competitiveness in the world market will grow.
The "Russian Technologies" State Corporation, established in November 2007, is tasked to assist Russian organizations in various industries in developing, producing and marketing hi-tech products in the domestic and external markets, conducting applied research in the promising science and technology areas and introducing advanced technologies into production to raise the level of domestic R&D efforts, and cutting development time and costs. It is the biggest shareholder of VSMPO-AVISMA, possessing a 66% stake in it. The current mechanism for holding assets of this unique titanium manufacturer enables the State to control supply of the domestic industry and defense-industrial complex with this strategic raw material.
A joint action strategy being pursued by Russian Technologies and VSMPO-AVISMA is aimed to gradually switch from manufacturing of semi-finished items to machining and production of finished products, including large-sized ones.
The VSMPO-AVISMA Corporation is among the most successful Russian enterprises. Its net profit has more than doubled over the recent three years. Such results were achieved through a growth in output and sales of its basic kinds of products. Russia currently exports over 80% of its titanium finished and semi-finished products. VSMPO-AVISMA’s share of the global titanium production is in excess of 25-27%. Over the recent five years, the Corporation has doubled production and its exports reached a record-high share of overall turnover.
The Boeing Corporation is the world's leading aerospace company and the largest manufacturer of commercial jetliners and military aircraft. Additionally, Boeing designs and manufactures rotorcraft, electronic and defense systems, satellites, launch vehicles and advanced information and communication systems. Headquartered in Chicago, Boeing employs more than 150,000 people across the United States and in 70 countries internationally. Boeing has customers in more than 90 countries around the world and is one of the largest U.S. exporters in terms of sales.
Since 1992, Boeing has worked closely with the Russian aerospace and IT industries, as well as with airlines in Russia and the CIS. Boeing also works with leading Russian and Ukrainian aerospace companies on two ambitious space programs—International Space Station and Sea Launch, the world’s most reliable heavy-lift commercial launch service.
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