VSMPO-AVISMA is investing USD 800 million in its development

21.09.2011 — News

SVERDLOVSK REGION.

In 2011-2015, the VSMPO-AVISMA Corporation, OJSC, will earmark about 800 million US dollars for expansion and upgrading of its production.

The VSMPO-AVISMA Corporation press service has informed RusBusinessNews that the investment program is aimed to increase production output of ingots, forgings and billets, machined forgings and flat rolled products. VSMPO-AVISMA intends to expand manufacturing of rolled and welded tubes, ingots from aluminum alloys for needs of the aircraft-building industry.

The first results of the modernization can be seen already in 2011: The corporation will manufacture about 27 thousand tons of titanium products, thus exceeding the last year performance by 22%.

VSMPO-AVISMA is expanding its cooperation with the existing partners and is interested in entering new markets. For example, the corporation has signed new contracts with Airbus, Goodrich, Pratt & Whitney Canada and opened its representative office in China.