VSMPO-AVISMA is taking advantage of 14 billion rubles of investment

30.11.2012 — News

SVERDLOVSK REGION

In 2012, the VSMPO-AVISMA Corporation, OJSC spent about eight billion rubles on facility upgrades, and the company plans to allocate another six billion for that purpose in 2013.

The installation of two skull furnaces will require an investment of 2.5 billion rubles, and over two billion rubles will be spent to put in a new press. Construction has begun on a complex to manufacture rolled rings and to mechanize the processing of discs and coils - a project that will cost 2.5 billion rubles. In 2013 the corporation will invest in the development of its rolled and extruded products, as well as its machining equipment.

VSMPO-AVISMA's general director, Mikhail Voevodin, told RusBusinessNews that in 2012 the corporation will surpass its historical highs according to most indices of its performance. By the end of this year, VSMPO will have produced more than 31,000 tons of titanium. That number has not exceeded 27,000 tons since the collapse of the Soviet Union. The company will see revenues of over 39.5 billion rubles and net profits of more than seven billion rubles.