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VERKHNAYA SALDA, Sverdlovsk Region, Russia (RNWire) - Vladislav Tetyukhin confirmed the Company's current plan to expand titanium sponge production capacities up to 44000 MT by 2010 and announced the Company's goal to reach 56000 MT by 2012. This year AVISMA plans to produce 32000 MT of titanium sponge.
This increase in titanium sponge production is determined by the increase in output of titanium products to support the requirements of the Company's strategic partners both in Russia and abroad.
The development program of AVISMA (Berezniki, Perm Area) provides for construction of new titanium sponge production facilities and development of infrastructure to ensure regular power supplies. They plan to invest approximately $300 mln. in AVISMA within the next five years.
Processing capacities of VSMPO (Verkhnaya Salda, Sverdlovsk Region) will be considerably developing.
"We continue to expand capacities involved in production of high-value added products to remain competitive in the changing market conditions," said Vladislav Tetyukhin at the meeting with the senior managers.
He also commented on the emergency shutdown of one of the mines of OAO Uralkali (Berezniki, Perm Area) which is the major supplier of carnallite ore to AVISMA. Now all the risks that could potentially impact AVISMA production are removed due to the actions undertaken by the special commission.
Those actions included signing of an agreement with an alternative source – OAO Silvinit, located 30 kilometers far from AVISMA in Solikamsk, Perm Area, to supply raw materials in the amount required to fully load the production capacities. Now the raw materials are being supplied to AVISMA by trucks.
In order to completely prevent all potential risks related to supplies of carnallite to AVISMA in the future we will use both sources, i.e. OAO Silvinit and OAO Uralkali. This supply route will be worked out within the next two years. |
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