12.03.2013 — News
Ural Boeing Manufacturing, the joint venture between Boeing and the VSMPO-AVISMA Corporation, OJSC, will turn a profit in the near future. Production there is set to rise 60%.
This is the objective described by the new general director Terry Sacks. VSMPO-Avisma’s press office told RusBusinessNews that the new director came to the company in October 2012, replacing Gary Koessler, who had held the post for more than two years.
Ural Boeing Manufacturing, which specializes in the primary machining of titanium forgings for the Boeing 787 Dreamliner and the Boeing 737, has been operating in Verkhnyaya Salda since 2009. There are plans to invest $10 million USD in the development of the company. The funds will be used to purchase processing units for titanium parts.
In total, Boeing will invest $27 billion in its Russian projects over the next 30 years. About $18 billion will be spent to buy titanium products and $5 billion on engineering design services. Another $4 billion will go toward the purchase of other goods and services produced by the Russian aerospace industry.