Rostech sells nearly half its shares in VSMPO-AVISMA

Russia’s State Corp. Russian Technologies (Rostech) has sold 45.42% shares in titanium manufacturer VSMPO-AVISMA to company management. The deal is valued at approximately $970 million. The Russian manufacturer supplies titanium to Boeing and Airbus. Boeing and VSMPO-AVISMA Corp. are considering expanding their titanium-production joint venture, Ural Boeing Manufacturing, to support ongoing production increases for the Boeing 737NG. The new joint venture will control 50% plus ...