A joint venture between VSMPO-AVISMA and Arkonik SMZ starts
Arkonik SMZ previously carried the name of Alcoa SMZ and entered Arconic. VSMPO-AVISMA continues to be the leader of the Russian titanium industry. Recently, the company announced the introduction to the work of the joint venture of Alti forge. Before that it was held the agreement with regulators. Joint venture is the possibility of combining the technical capabilities of the companies. In particular, it considers the production on the basis of Arkonik SMZ large forgings. Joint venture focused on the production of aluminum and titanium parts. Mostly elements of modern aircraft. Products are designed to meet the needs of the global aerospace sector.
Their position was expressed by Maxim Smirnov, who served as President Arkonik SMZ. This production aims to combine the experience of Alcoa. Here we are talking about the production of alloy on base of titanium and aluminum, and high-tech semi-finished products from titanium. VSMPO-AVISMA has been the leader in the market of the latter. The joint venture will ensure the expansion of the product. Light metals will increase the competitiveness of aerospace sector of Alcoa’s businesses. Opens new opportunities, increasing the profitability of the company.
His point of view was expressed by Maxim Voevodin, CEO of VSMPO-AVISMA. He made an emphasis on the unique equipment companies. Linked in one production chain, it will increase production of aircraft products. Consumers will be able to obtain additional guarantees in respect of performance of contracts. The initial joint venture agreement between VSMPO-AVISMA and Alcoa was signed in 2013, in October. It was a step to the creation of the joint venture.
Meanwhile, Alcoa continues the process of splitting into two separate companies. Under this process, the Corporation announced that the boards of Directors for them. The Corporation wants to retain valuable experience and continuity. As a result, the Board of Directors of every newly-born companies will include members of the present Council. The old Director will interact with the new leadership, carefully selected after selection of candidates. CEO and President of the company said that two new Council will improve the value of formed companies to shareholders. And each company expects a promising future.