BOEING, RUSSIAN TI PRODUCER EYEING JOINT VENTURE

Russian titanium producer VSMPO-Avisma Corp. and Boeing Co. have reached a memorandum of understanding regarding a proposed joint venture that would machine titanium forgings that the aircraft producer includes in one of its latest jet liners

The MOU outlines a proposed 50/50-equity venture

"Establishment of the joint venture is a new stage of development and a good opportunity for the corporation to increase its competence in the new field of activity-production of parts very close to the finished product. The joint venture will use state-of-the-art practices both in cooperation with Boeing and its subcontractors, and with domestic aircraft building companies which will show interest in the project," stated Vladislav Tetyukhin, director general of VSMPO-Avisma, after signing the MOU.