 | |
Native name | ПАО "Корпорация ВСМПО-АВИСМА" |
|---|---|
| Company type | Public Joint Stock Company |
| MCX: VSMO | |
| Industry | Metallurgy |
| Founded | 1933; 92 years ago (1933) |
| Headquarters | Verkhnyaya Salda, Russia |
Key people | Nikolay K. Melnikov (Acting General Director) |
| Products | Titanium 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 |
| Website | www |
VSMPO-AVISMA Corporation (Russian:ВСМПО-АВИСМА) is a Russian mining company and manufacturer and the world's third-largest producer oftitanium sponge.[2] Located inVerkhnyaya Salda, Russia,VSMPO-AVISMA also operates facilities in Ukraine, England, Switzerland, Germany, United States. The company produces titanium, aluminum,magnesium andsteel alloys. VSMPO-AVISMA does a great deal of business withaerospace 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.[3]
VSMPO is mostly owned by Industrial Investments LLC, whose main owner is the russian billionaireMikhail Shelkov.[4]
VSMPO stands for VerkhneSaldinskoye Metallurgicheskoye Proizvodstvennoye Ob'yedineniye (Верхнесалдинское металлургическое производственное объединение, or Metal-producing company ofVerkhnyaya Salda; and AVISMA for AVIatsionnyye Spetsial'nyye MAterialy or AVIation Special MAterials).[5]
AfterRosoboronexport 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 USBoeing and VSMPO-AVISMA created a joint venture Ural Boeing Manufacturing (UBM) and signed a contract ontitanium products deliveries until 2015. Boeing planned to invest 27 million dollars in the production of titanium parts for its needs.[7]
The company is a key organizer of theTitanium Valley project inSverdlovsk Oblast.[8]
Despite VSMPO-AVISMA's being a russian company, it was not affected by theAmerican and European sanctions during the first phase of theRusso-Ukrainian War.[9][10] In December 2020, the company was temporarily included in the American sanction list due to its connections with theRussian 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 UBM as well as project investment cost ofR&D sector. The agreement maintains the role of “VSMPO-AVISMA” as the biggest titanium supplier for Boeing.[12] Only four months later, following theRussian invasion of Ukraine, the agreement was terminated, as well as a 2007 agreement.[citation needed]
In November 2021, the Arbitration Court ofSverdlovsk Oblast ordered to the company to pay 651 million roubles for pollution on ground area of 347538 square meters pro rata toFederal Service for Supervision of Natural Resources legal action.[13]
Following theRussian 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]
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