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VSMPO-AVISMA
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VSMPO-AVISMA
VSMPO-AVISMA Corporation (Russian: ВСМПО-АВИСМА) is a Russian mining company and manufacturer and the world's third-largest producer of titanium sponge. 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.
VSMPO is mostly owned by Industrial Investments LLC, whose main owner is the russian billionaire Mikhail Shelkov.
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).
After Rosoboronexport obtained an 66% stake in October 2006 of VSMPO-Avisma, Sergey Chemezov became chairman of VSMPO-AVISMA in November 2006.
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.
The company is a key organizer of the Titanium Valley project in Sverdlovsk Oblast.
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. 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.
In 2020, a criminal case against Mikhail Voevodin had broken out, former CEO of VSMPO-Avisma, about losses from transactions concluded in 2017-2019, when VSMPO-AVISMA sold ferrotitan to Swiss Interlink Metals and Chemicals AG and American Interlink Metals and Chemicals Inc at an undervalued price, and then bought products made from it at an inflated cost.
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VSMPO-AVISMA
VSMPO-AVISMA Corporation (Russian: ВСМПО-АВИСМА) is a Russian mining company and manufacturer and the world's third-largest producer of titanium sponge. 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.
VSMPO is mostly owned by Industrial Investments LLC, whose main owner is the russian billionaire Mikhail Shelkov.
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).
After Rosoboronexport obtained an 66% stake in October 2006 of VSMPO-Avisma, Sergey Chemezov became chairman of VSMPO-AVISMA in November 2006.
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.
The company is a key organizer of the Titanium Valley project in Sverdlovsk Oblast.
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. 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.
In 2020, a criminal case against Mikhail Voevodin had broken out, former CEO of VSMPO-Avisma, about losses from transactions concluded in 2017-2019, when VSMPO-AVISMA sold ferrotitan to Swiss Interlink Metals and Chemicals AG and American Interlink Metals and Chemicals Inc at an undervalued price, and then bought products made from it at an inflated cost.