Russia’s State Corp. Russian Technologies (Rostech) has sold 45.42%
shares in titanium manufacturer VSMPO-AVISMA to company management. The
deal is valued at approximately $970 million.
The Russian manufacturer supplies titanium to Boeing and Airbus.
Boeing and VSMPO-AVISMA Corp. are considering expanding their titanium-production joint venture, Ural Boeing Manufacturing, to support ongoing production increases for the Boeing 737NG.
The new joint venture will control 50% plus one share of VSMPO-AVISMA. Rostech will keep 25% plus one share, the rest will remain in a free float.
Rostech CEO Sergey Chemezov said the company anticipates a production volume growth of 10%-15% a year through 2015.
The Russian manufacturer supplies titanium to Boeing and Airbus.
Boeing and VSMPO-AVISMA Corp. are considering expanding their titanium-production joint venture, Ural Boeing Manufacturing, to support ongoing production increases for the Boeing 737NG.
The new joint venture will control 50% plus one share of VSMPO-AVISMA. Rostech will keep 25% plus one share, the rest will remain in a free float.
Rostech CEO Sergey Chemezov said the company anticipates a production volume growth of 10%-15% a year through 2015.
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