OREANDA-NEWS. November 26,  2007. JSC Ural Boeing Manufacturing (UBM), a joint venture of the Boeing Company and VSMPO-AVISMA Corporation will hold the first meeting of the Board of Directors on November 27-28, the corporation's press service reported. The agenda of the meeting of the Board of Directors covers appointment of the Company's officers and approval of internal regulatory documentation. The members of the Board of Directors, namely John Byrne, Chairperson of Board of Directors, Henry Knies (Boeing), Oleg Leder (VSMPO-AVISMA), Alexander Litvinov (VSMPO-AVISMA), David Moe (Boeing), Denis Zaitsev, Secretary of Board of Directors (VSMPO-AVISMA), will discuss preparation of the production site and delivery of the required equipment.

In August 2007, during MAKS-2007 Air Show, the representatives of Boeing and VSMPO-AVISMA Corporation declared establishment of the Joint Venture called Ural Boeing Manufacturing (UBM). UBM, the JV will machine titanium die forgings to be used for Boeing 787 Dreamliner. Originally, the plans to establish the Joint Venture were announced by the Companies in April 2006 when the relevant Memorandum of Intent was signed. Gary A. Baker was appointed JV's General Director /CEO. The joint venture will rough machine titanium forgings starting from 2008. Finishing of parts will be performed by the Boeing facility in Portland, Oregon, and a number of the company’s subcontractors. Boeing and VSMPO-AVISMA have been collaborating since 1997. The Joint Venture establishment is a next stage of the Companies’ successful partnership.

VSMPO-AVISMA Corporation is the world largest manufacturer of titanium products. Today the Corporation exports 70% of its products and supplies 30% to the domestic market. The major customers of VSMPO-AVISMA are largest aircraft-building companies all over the world.