PJSC VSMPO-AVISMA Corporation
Native name
ПАО "Корпорация ВСМПО-АВИСМА"
Company typePublic Joint Stock Company
MCX: VSMO
IndustryMetallurgy
Founded1933; 91 years ago (1933)
HeadquartersVerkhnyaya Salda, Russia
Key people
Nikolay K. Melnikov
(Acting General Director)
ProductsTitanium
Aluminum
Magnesium
Revenue$1.63 billion[1] (2019)
$361 million[1] (2019)
$321 million[1] (2019)
Total assets$5.52 billion[1] (2019)
Total equity$2.94 billion[1] (2019)
Number of employees
19 353
Websitewww.vsmpo.ru

VSMPO-AVISMA Corporation (Russian: ВСМПО-АВИСМА) is the world's largest titanium producer. 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, such as Boeing and Airbus.[2]

VSMPO is mostly owned by Industrial Investments LLC, whose main owner is the russian billionaire Mikhail Shelkov.[3] As of February 2022, VSMPO produced 90% of titanium in Russia and exported it to 50 countries all over the globe.[4]

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).[5]

History

After Rosoboronexport obtained an 66% stake in October 2006 of VSMPO-Avisma, Sergey Chemezov became chairman of VSMPO-AVISMA in November 2006.[6]

On 27 December 2007 US Boeing and VSMPO-AVISMA created a joint venture Ural Boeing Manufacturing and signed a contract on titanium products deliveries until 2015. Boeing planning to invest 27 billion dollars in the production of titanium parts for its needs.[7]

The company is a key organizer of the Titanium Valley project.[8]

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.[9][10] 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.[11]

In November 2021, “VSMPO-AVISMA” and Boeing signed an agreement to increase producing capacity of JV Ural Boeing Manufacturing (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.[12] Only four months later, following the Russian invasion of Ukraine, the agreement was terminated, as well as a 2007 agreement.

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.[13]

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.[14]

Related organizations

Subsidiaries

References

  1. ^ a b c d e "Consolidated Financial Statements for the year ended 31 December 2019" (PDF). VSMPO-AVISMA. 25 March 2020. p. 74. Retrieved 25 March 2020.
  2. ^ "Корпорация ВСМПО-АВИСМА". www.vsmpo.ru.
  3. ^ "VSMPO-Avisma shareholder closes deal for purchase of Russian assets of Arconic".
  4. ^ "На производстве "ВСМПО-Ависма" произошел инцидент" (in Russian). Kommersant. 14 February 2022. Retrieved 6 March 2022.
  5. ^ Liuhto, Sutyrin, Blanchard 2016.
  6. ^ Фрумкин, Константин (Frumkin, Konstantin) (25 December 2006). "Чеболь по-русски: 2007 год станет годом продолжения экспансии госкорпораций" [Chaebol in Russian: 2007 will be the year of continued expansion of state corporations]. Компании Деловой Еженедельник (ko.ru) (in Russian). Archived from the original on 14 January 2007. Retrieved 11 August 2021.((cite news)): CS1 maint: multiple names: authors list (link)
  7. ^ "Корпорация ВСМПО-АВИСМА". Archived from the original on 21 July 2011. Retrieved 21 July 2011.
  8. ^ ""НордБазальт" может лишиться статуса резидента ОЭЗ "Титановая долина"" (in Russian). Interfax. 22 February 2022. Retrieved 7 March 2022.
  9. ^ Сергей Фиш (3 March 2015). "Американская Alcoa включила в список рисков проект с "Ависмой"" (in Russian). Izvestiya. Retrieved 7 March 2022.
  10. ^ Анатолий Джумайло, Татьяна Дятел, Елизавета Кузнецова, Полина Хрестюхина (13 April 2018). "Нет титана в своем отечестве" (in Russian). Kommersant. Retrieved 7 March 2022.((cite web)): CS1 maint: multiple names: authors list (link)
  11. ^ Евгений Зайнуллин, Айгуль Абдуллина (7 March 2022). "Boeing отказался от российского титана" (in Russian). Kommersant. Retrieved 7 March 2022.
  12. ^ "ВСМПО-Ависма и Boeing договорились о расширении сотрудничества" (in Russian). Коммерсантъ. 15 November 2021.
  13. ^ "ВСМПО-Ависма должна возместить 651 млн руб ущерба от загрязнения почв" (in Russian). Интерфакс. 27 November 2021.
  14. ^ ""ВСМПО-Ависма" приостановила поставку титана для Boeing" (in Russian). Kommersant. 7 March 2022. Retrieved 7 March 2022.
  15. ^ "Titanium Supplier | Titanium Products | Titanium Manufacturing | Titanium Forging | Titanium Machining". www.vsmpo-tirus.co.uk.
  16. ^ "Subsidiary Companies - CJSC "Tube Works VSMPO-AVISMA"". Archived from the original on 29 September 2006.

Literature

External links

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