Boeing and VSMPO-AVISMA Expand Cooperation

Boeing and Russian titanium manufacturer VSMPO-AVISMA signed a memorandum on expanding strategic partnership at the Dubai Airshow. According to this document, the Ural corporation will remain the largest supplier of titanium for existing and prospective Boeing civil aircraft, the press service of VSMPO-AVISMA told RusBusinessNews.

 

As part of the agreements, Boeing and VSMPO-AVISMA will increase the load of the Ural Boeing Manufacturing joint venture in Russia, bump up R&D investments, and continue creating new titanium alloys as well as developing and implementing innovative technologies. The companies will also find new opportunities to produce additional titanium assemblies and components at VSMPO-AVISMA for Boeing civil aircraft in addition to purchasing raw materials and stampings.

Photo by Waleed Shah (Boeing)

 

Denis Manturov, Minister of Industry and Trade of the Russian Federation, noted that the agreement with Boeing once again confirms the status of VSMPO-AVISMA as the world's leading manufacturer of high-tech products.

 

"I am sure that its implementation will have a significant positive impact on the increase in the volume of Russian non-resource-based non-energy exports. The task that we face within the framework of the International Cooperation and Export national project is to increase by 2030 the supply of Russian non-resource-based non-energy goods to foreign markets by at least 70% compared to 2020. I also cannot but note the fact that already today VSMPO-AVISMA is building its business on the principles of sustainable development, this not only strengthens the company's position in global markets but also demonstrates the advantages of modern business management models to other Russian enterprises," the head of the Ministry of Industry and Trade of the Russian Federation stressed.

Photo by Waleed Shah (Boeing)

 

"The signing of the memorandum confirms our status as a reliable main partner of Boeing for many years to come. For us, this means trust in our titanium products and recognition of their high quality. Stable long-term relations with Boeing give us the opportunity to further expand the investment program and develop production facilities as well as continue implementing ESG principles of business," said Dmitry Osipov, CEO of VSMPO-AVISMA Corporation PJSC.

 

"Today we have taken another important step in expanding our mutually beneficial cooperation with VSMPO-AVISMA. For almost 25 years, this supplier has been a reliable strategic partner of Boeing," summed up Stan Deal, President and CEO of Boeing Commercial Airplanes.

Photo by Waleed Shah (Boeing)