VSMPO-AVISMA invested 5 billion rubles in its development
31.03.2015 — News
By the end of 2014, the VSMPO-Avisma Corporation, OJSC, increased the output of titanium products by 1.4% – up to 29,264 tons. More than 5 billion rubles were spent in relation to the investment program, and 360 million rubles – for scientific research and development work.
The Press Service of the Corporation has informed RusBusinessNews that in February 2015, the State Expertize Agency of the Sverdlovsk region approved the construction of the Forging Mechanical Conversion Industrial Complex of VSMPO – New technologies in the Titanium Valley Special Economic Zone. The project will be completed before the year is out.
In 2014, the net profit of VSMPO-AVISMA decreased by 46% – down to 4.018 billion rubles due to the ruble devaluation late last year. For the same reason, EBITDA decreased by 33.4% – down to 8.302 billion rubles.
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