Boeing suspends purchases of Russian titanium

The American concern Boeing has stopped purchasing titanium from Russia. The corporation’s press service told Interfax that Boeing has significant stocks of the metal, which comes from suppliers around the world.

“Titanium reserves and a network of alternative suppliers allow Boeing to maintain uninterrupted production of civil aircraft,” he added. “The company will continue to take steps to ensure the sustainability of the business in the long term,” the company said in a statement.

The main supplier of titanium for the needs of the aerospace industry was the Russian corporation VSMPO-Avisma. In December 2021, Boeing entered into an agreement with her to expand cooperation. However, sanctions imposed after the Russian invasion of Ukraine forced the company to withdraw from Russia.

Dmitry Osipov, General Director of VSMPO-Avisma, said: “We are sincerely sorry that the contract with our long-term partner has been suspended. Observing the situation in the country and the world, we were ready for such a development of events and the corporation has all the opportunities and resources to reduce emerging risks. Now we are reorienting our sales policy to other markets and areas. The scope of titanium is quite wide – from medicine to household and food industries. We are able to quickly adapt and, we are sure that our unique technological developments in the production and processing of titanium alloys will always be in demand in other markets.

By Editor

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