VSMPO-Avisma has resumed its investment program

26.08.2010 — News

The VSMPO-Avisma corporation has resumed its investment program, suspended two years ago because of the economic crisis. On August 25, 2010, their third 6,000-ton pressing machine from the Skoda company with two handling mechanisms from the Glama company were officially put into operation at the Verkhnyaya Salda Metallurgical Production Association. A total of $40 million was invested in the equipment.

According to Mikhail Voevodin, the general director of VSMPO-Avisma, the pressing machine was purchased in 2006, but the unfavorable condition of global markets forced them to consider not only whether they should freeze the investment program, but if it was even advisable to increase the capacity of the forging and stamping shop. In 2009, the shareholders decided to finish the pressing machine, which will produce 900-1,000 tons a month of titanium slab for making plates, sheets, and strips.

Ivan Dekun, the head of VSMPO's forging and stamping shop, told RusBusinessNews that in addition to the pressing machine "6000," new furnaces from the Locher company will be installed and also equipment for processing forgings. In 2011, VSMPO plans to begin fulfilling orders to produce relatively large, one-of-a-kind products for the aerospace and petrochemical industries. The corporation's management expects their production numbers to return to pre-economic crisis levels by next year. Their increased number of orders has forced VSMPO-Avisma to invest no less than $200 million per year in technical development.