Boeing, Russian Technologies Working to Expand Collaboration in Titanium Procurement
Boeing (NYSE: BA) and the State Corporation Russian Technologies (Rostech), a majority shareholder in the joint stock company VSMPO-AVISMA Corp., are working on an agreement to expand collaboration in titanium procurement and technology development. Boeing and Rostech also are seeking to increase their cooperation in commercial aviation services.
Ray Conner, Boeing Commercial Airplanes president and chief executive officer, and Sergey Chemezov, chairman of the board of VSMPO-AVISMA and chief executive officer of Russian Technologies Corp., pledged to work together to grow the relationship between the two companies.
"Rostech has been a reliable and valuable partner to Boeing in Russia for many years, and together we achieve results that allow us to grow our businesses," Conner said. "Boeing and Rostech are working hard to further expand our partnership and our mutually beneficial cooperation."
"Cooperation with Boeing allows us to offer new technological solutions for the global market. Today VSMPO-AVISMA is one of the largest titanium suppliers to Boeing and its key partner in the field of new alloy development," Chemezov said. "In recent years, the partners have developed three new technologies in a joint innovation center. Extending cooperation with Boeing will help us create even better and more