VSMPO-AVISMA

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PJSC VSMPO-AVISMA Corporation
Native name
ПАО "Корпорация ВСМПО-АВИСМА"
Company typePublic Joint Stock Company
MCX: VSMO
IndustryMetallurgy
Founded1933; 93 years ago (1933)
HeadquartersVerkhnyaya Salda, Russia
Key people
Nikolay K. Melnikov
(Acting General Director)
ProductsTitanium
Aluminum
Magnesium
RevenueExpression error: Unexpected < operator
Expression error: Unexpected < operator
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Total assetsExpression error: Unexpected < operator
Total equityExpression error: Unexpected < operator
Number of employees
19 353
Websitewww.vsmpo.ru

VSMPO-AVISMA Corporation (Russian: ВСМПО-АВИСМА) is a Russian mining company and manufacturer and the world's third-largest producer of titanium sponge.[1] Located in Verkhnyaya Salda, Russia, VSMPO-AVISMA also operates facilities in Ukraine, England, Switzerland, Germany, United States. The company produces titanium, aluminum, magnesium and steel alloys. VSMPO-AVISMA does a great deal of business with aerospace companies around the world. As of February 2022, VSMPO produced 90% of titanium in Russia and exported it to 50 countries all over the globe.[2]

VSMPO is mostly owned by Industrial Investments LLC, whose main owner is the russian billionaire Mikhail Shelkov.[3]

VSMPO stands for VerkhneSaldinskoye Metallurgicheskoye Proizvodstvennoye Ob'yedineniye (Верхнесалдинское металлургическое производственное объединение, or Metal-producing company of Verkhnyaya Salda; and AVISMA for AVIatsionnyye Spetsial'nyye MAterialy or AVIation Special MAterials).[4]

History

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After Rosoboronexport obtained an 66% stake in October 2006 of VSMPO-Avisma, Sergey Chemezov became chairman of VSMPO-AVISMA in November 2006.[5]

On 27 December 2007 US Boeing and VSMPO-AVISMA created a joint venture Ural Boeing Manufacturing (UBM) and signed a contract on titanium products deliveries until 2015. Boeing planned to invest 27 million dollars in the production of titanium parts for its needs.[6]

The company is a key organizer of the Titanium Valley project in Sverdlovsk Oblast.[7]

Despite VSMPO-AVISMA's being a russian company, it was not affected by the American and European sanctions during the first phase of the Russo-Ukrainian War.[8][9] In December 2020, the company was temporarily included in the American sanction list due to its connections with the Russian Armed Forces, but later the US lifted the sanctions against VSMPO-AVISMA.[10]

In November 2021, “VSMPO-AVISMA” and Boeing signed an agreement to increase producing capacity of UBM as well as project investment cost of R&D sector. The agreement maintains the role of “VSMPO-AVISMA” as the biggest titanium supplier for Boeing.[11] Only four months later, following the Russian invasion of Ukraine, the agreement was terminated, as well as a 2007 agreement.[citation needed]

In November 2021, the Arbitration Court of Sverdlovsk Oblast ordered to the company to pay 651 million roubles for pollution on ground area of 347538 square meters pro rata to Federal Service for Supervision of Natural Resources legal action.[12]

Following the Russian invasion of Ukraine in February 2022, several international companies ceased their collaboration with VSMPO-AVISMA. Thus, in March 2022, Rolls-Royce Holdings and Boeing suspended purchasing titanium from the company for an indefinite period.[13]

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Subsidiaries

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Awards

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References

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  4. ^ Liuhto, Sutyrin, Blanchard 2016.
  5. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
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  18. ^ a b c d Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).

Literature

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  • Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
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  • Error creating thumbnail: File missing Media related to Lua error in Module:Commons_link at line 62: attempt to index field 'wikibase' (a nil value). at Wikimedia Commons
  • Official website
  • Firmakes Titanium
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