10 Feb 2020 15:14

VSMPO-Avisma increased titanium-sponge output by 10% in 2019 - company

YEKATERINBURG. Feb 10 (Interfax) - VSMPO-Avisma Corporation increased the output of titanium sponge, the raw material used to produce titanium, by 10% to 44,000 tonnes in 2019, the company said.

Titanium sponge is produced at the VSMPO-Avisma Bereznikovsky plant in the Perm Territory. Then it is used to produce titanium bars and semi-finished products at the company's plant in the Sverdlovsk Region.

The company increased its output of titanium products by 15% to 33,000 tonnes in 2018 compared to 2017. Interfax has not received information on the 2019 results.

VSMPO-Avisma is the main titanium supplier for many aerospace companies worldwide, including Boeing, Airbus, and Embraer. Mikhail Shelkov, Deputy Chairman of the Board of Directors, is the beneficiary of 65.27% of the shares in VSMPO-Avisma, while 25% of the shares plus one belong to the state Rostec corporation.