DUBAI, United Arab Emirates,
Nov. 15, 2021 /PRNewswire/
-- Boeing (NYSE: BA) 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.
"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
http://www.vsmpo.ru/en/.
Contacts
Elena Alexandrova
Boeing Communications, Russia,
Ukraine and CIS
+7 985 774 63 28
elena.alexandrova@boeing.com
Ekaterina Vozhegova
VSMPO-AVISMA Communications
Mob. +7 966 710 01 16
vozhegova_ee@vsmpo-avisma.ru
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SOURCE Boeing