OREANDA-NEWS. On November 13, 2008, in the museum of VSMPO-AVISMA Corporation, press conference for representatives of regional mass-media with Eugene Romanov, Director General and Michael Voevodin, Member of the Board of Directors took place. Subject of the meeting- "Development strategy of VSMPO-AVISMA Corporation in the World Financial Crisis Conditions", reported the press-centre of VSMPO-AVISMA.

The reporters were interested in what was the impact of the crisis on quantity of output, investment and social programs, authorised personnel complement and salaries; what goals and tasks the corporation has for the nearest future.

According to E. Romanov, the financial crisis will not affect at once real sector of the economy to which titanium production relates to. In "aerochain" the first to suffer from crisis will be carriers, then air manufactures will be concerned, and after that – we, as producers of products of aero-space applications.

Today, the crisis may be only evaluated, later – suffered, and we would be able to speak about its real prospects only next year. Now we have an opportunity to reconsider some programs, to distribute means more efficiently. As for investment programs they will not cut down, only their terms will be corrected.

M. Voevodin talked about new, non-aerospace market outlets for VSMPO-AVISMA products: these are power industry, including atomic industry, petroleum chemistry, building industry…

On the questions about contracts already sighed, E. Romanov answered that production output and volume of deliveries required in present situation are being adjusted now.

On the questions about social programs, E. Romanov answered that they are not scaled down, and if possible they will be continued, and some will be postponed to more favorable times.
"It is important to retain all hands and real salary, - noted Director General- and for this it is necessary to carry out deliberate personnel policy to redistribute labor force properly". In conditions of the crisis it should make a point of LEAN program
(Continuous improvement of production activity), that will allow to discover internal reserves, and organize economic production.

On the question about future of the Corporation, Director General said, that it is necessary to take the crisis calmly, to pass through it, improve in strength and then take a niche in the market, producing wide range of high quality marketable titanium production.