OREANDA-NEWS. December 13, 2007. On November 27-28, 2007, the first meeting of the Board of Directors of closed joint-stock company “Ural Boeing Manufacturing” (UBM), a joint venture set up by Boeing and VSMPO-AVISMA Corporation, took place in Verkhnaya Salda, Russia, reported the press-centre of VSMPO-AVISMA Corporation.

The Board of Directors has approved the corporate structure and internal documents of the Company and endorsed Mr. Wall Clide Wandell as the choice for the Production Director. The Board has also instructed Harry Baker, General Director of the Company, to finalize negotiation of the candidate for Financial Director position and interview the applicant.

The Board Members discussed the construction schedule of the production site, office and accommodation facilities, reviewed the long-term business plan and personnel recruiting procedure.

Construction of the production site is done by the specialists of VSMPO-AVISMA Corporation. The total production area will be 8,900 sq. meters. The first machine ordered by the joint venture has already been manufactured. passed conformance inspection and quality performance test. The acceptance procedure was performed in the presence of Boeing experts. The machines are manufactured by Cincinnati Machine, USA.The first machine is currently being prepared for shipment; to Russia. It will be installed and put into service in August 2008.
It will be installed and commissioned in August, 2008.

On the week of December 12, 2007, a team of Boeing commercial and technical experts visited VSMPO-AVISMA . The visit agenda included contracts execution for mill products and die-forgings orders; plan of capacity development for sponge titanium, mill products and die-forgings production in 2007-2012; current and future R&D projects. A particular focus was the installation process of the equipment for production of die-forgings from the high-strength titanium alloy Ti 5553 in VSMPO shops . The forgings will be further machined at the JV Ural Boeing Manufacturing.