MOSCOW (AP) — U.S. airplane maker Boeing Co. and Russian titanium producer OAO VSMPO-Avisma have signed a deal creating a joint venture to make titanium forgings for use in the production of the Boeing's 787 jet, Russian news agencies reported Tuesday.
Announcements about the deal came on the first day of Russia's International Aviation and Space Show outside Moscow, Interfax and ITAR-Tass reported.
The new company, a 50-50 joint venture called Ural Boeing manufacturing, will be based in Verkhnaya Salda in the Ural Mountains, the reports said. ITAR-Tass quoted Sergei Kravchenko, Boeing's president in Russia, as saying it would start operating this year.
Kravchenko said each Dreamliner will contain more than 20 tons of parts produced by VSMPO-Avisma, ITAR-Tass reported.