OREANDA-NEWS. April 21, 2009. Prime Minister Vladimir Putin met with Airbus CEO Thomas Enders and Sergei Chemezov, director general of Russian Technologies State Corporation and chairman of the board of directors of VSMPO-Avisma.

Transcript of the beginning of the meeting:

Vladimir Putin: Mr Enders,
I am pleased to meet you on the occasion of the signing of a contract between our firms. Russia's companies have been maintaining contacts with European partners, members of the Airbus consortium, since the mid-1990s. I am happy that our cooperation is growing rapidly, increasing more than 20 times over the years in value terms.

This meeting, with the contract we are signing for several years ahead, which includes more advanced metal processing and greater physical volume of cooperation, is an encouraging sign. Airbus will account for 15%-25% of VSMPO-Avisma's exports.
VSMPO-Avisma will meet 60% of Airbus's demand for titanium. We plan to develop cooperation with E

ADS in many areas. The cooperation plans with Airbus we are discussing today are an important part of our interaction in the high-tech sphere. I hope that all of our plans will be materialised.

Thomas Enders (as translated): My heartfelt thanks to you, Mr Prime Minister.
I see that you, as always, are very well prepared for our talks. I am pleased to be here with my colleague, Mr Chemezov, to sign this very important agreement.

You have already talked about all the main issues. I would only like to add that this agreement is of strategic importance for us, especially in terms of cooperation with VSMPO-Avisma.

I would like to say that we initially planned to develop cooperation with Russian partners step by step, increasing its pace as we progress. And so today, we are making a huge step forward in aircraft building cooperation with our partners, the independent corporation Avisma.

Let me highlight that titanium is a central component in aircraft-building - and its importance is growing.
Furthermore, I would like to coincide with the point you stressed earlier - that we do not only import raw titanium from Russia. Russian companies now offer much more advanced processing of titanium, which certainly has cost implications all across the board.

Finally, allow me to add that today's event is not the end point of our cooperation. We have far-reaching plans together with our Avisma partners and other Russian partners in the sphere of aircraft building.
Thank you again for your support of our joint efforts with Mr Chemezov.

Vladimir Putin: What is the total value of the contract?

Thomas Enders: Four billion.