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#Boeing and VSMPO-AVISMA Agree on Titanium Supplies and Technology Collaboration for Years to Come

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November 15 2021

Boeing and VSMPO-AVISMA Agree on Titanium Supplies and Technology Collaboration for Years to Come
• Boeing and VSMPO-AVISMA extend Russian enterprise as largest titanium supplier for Boeing commercial products
DUBAI, Nov. 15, 2021 - Boeing and Russian titanium producer VSMPO-AVISMA have signed a Memorandum of Understanding (MOU) affirming that VSMPO-AVISMA will remain the largest titanium supplier for current and future Boeing commercial airplanes.
Under the MOU signed by company leaders at the Dubai Airshow, Boeing and VSMPO-AVISMA will work together to:
• Increase utilization of their Russia-based Ural Boeing Manufacturing (UBM) joint venture;
• Increase R&D investment and continue to develop new titanium alloys and technologies;
• Explore new opportunities to expand VSMPO-AVISMA's role producing titanium parts and components beyond raw material or forging, for current and future Boeing commercial airplanes.
"This agreement with Boeing once again confirms the status of VSMPO-AVISMA as the world's leading manufacturer of high-technology products. I am sure that its implementation will have a significant positive effect on the increase in the volume of Russian non-primary non-power productive exports. The goal that we face within the framework of the national project "International Cooperation and Export" is to increase the supply of Russian non-primary non-power producing goods by 2030 to external markets by at least 70% compared to 2020. I also feel compelled to notice the fact that even now VSMPO-AVISMA is making its business on the principles of sustainable development, this not only strengthens the company's position in global markets, but also shows other Russian enterprises the advantages of modern business management models," said Denis Manturov, The Minister of Industry and Trade of the Russian Federation.
"The signing of the memorandum strengthens our position as a reliable partner to Boeing for many years to come. For us, it means confidence in our titanium products and recognition of their high quality", said Dmitry Osipov, CEO of VSMPO-AVISMA. "Stable long-term relationships with Boeing enable VSMPO-AVISMA to focus on expanding our investment program and developing our production capacity, as well as to continue implementing ESG-principles in our operations".
"Today we mark another important step in expanding our mutually beneficial cooperation with VSMPO-AVISMA", said Stan Deal, president and CEO of Boeing Commercial Airplanes. "VSMPO-AVISMA has been a reliable and valuable partner to Boeing for almost 25 years."
VSMPO-AVISMA is the largest titanium supplier for Boeing commercial production. Titanium parts from VSMPO-AVISMA are used on Boeing 737, 767, 787, 777 and 777X airplanes.
As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. The company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing's diverse team is committed to innovating for the future and living the company's core values of safety, quality and integrity. Learn more at www.boeing.ru.
VSMPO-AVISMA Corp. is the world's largest vertically integrated manufacturer of titanium and titanium alloy products. Its majority shareholder is Mikhail Shelkov, deputy chairman of the company's board of directors (65.27%). Products manufactured by VSMPO-AVISMA are widely used in aerospace, power engineering, petrochemical industry, shipbuilding, medicine and civil engineering. VSMPO-AVISMA partners with more than 450 companies in 50 countries worldwide. Learn more at /en/.

 

Ekaterina Vozhegova
VSMPO-AVISMA Communications
Mob. +7 966 710 01 16
vozhegova_ee@vsmpo-avisma.ru

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