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MOSCOW, November 18,/ITAR-TASS/. A joint venture (JV) of Russia’s titanium producer VSMPO-AVISMA, part of the state corporation Rostec and Boeing plan to increase the output of stamping parts for the US aircraft manufacturer, Rostec’s press office reported.
A memorandum of understanding signed Monday stipulates the construction of a new facility in the Sverdlovsk Region in Russia’s Urals to process stamping components for Boeing’s cutting-edge passenger liners. The facility will be located not far from the enterprise’s already existing plant in the special economic zone called Titanium Valley.
“This will help double the production capacity of the joint venture Urals Boeing Manufacturing (UBM) by 2016,” Rostec reported.
The new facility will employ about 100 highly skilled engineers. Investments have not been revealed.
The UBM was set up in the town of Verkhnyaya Salda in 2009. The plant’s specialization is both primary and final processing of titanium stamping parts produced by VSMPO-AVISMA for state-of-the-art Boeing 787 Dreamliner as well as Boeing 737 MAX and Boeing 777X, covering about 40 percent of Boeing’s demand for titanium.
Boeing is going to invest $27 billion in the development of the Russian titanium industry, air and space research and development programmes and various products and services. The U.S. company has been cooperating with VSMPO-AVISMA via the UBM for over fifteen years. Besides the UBM, Rostec and Boeing have another JV, a titanium alloy research centre.