Russia's VSMPO, Airbus sign $4 bln titanium deal
MOSCOW, July 14 |
MOSCOW, July 14 (Reuters) - Russia's VSMPO-Avisma (VSMO.MM), the world's largest titanium producer, said on Monday it has signed a deal to supply up to $4 billion in titanium products to Airbus and its parent EADS (EAD.PA) between now and 2020. VSMPO-Avisma, controlled by state conglomerate Russian Technologies, said in a statement the deal would cover the supply of round and flat rolled titanium products and stampings for contemporary Airbus models.
It said products would be supplied to other divisions of EADS and that the three firms would consider further cooperation with a view to vertically integrating production from raw materials through to finished products.
VSMPO-Avisma, which has production facilities in Russia's Ural mountains, exports about 70 percent of its products and also counts U.S. aviation giant Boeing (BA.N) among its main customers. (Reporting by Robin Paxton, Editing by Peter Blackburn)
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