OREANDA-NEWS. Airbus and VSMPO-AVISMA Corporation signed yet another Addendum to the existing contract valid till 2020 for delivery of forgings for the A320neo and the A350-1000.

“The contract is another step in strengthening our cooperation with VSMPO-AVISMA. In 2013 we are celebrating a very important milestone: 20 years of cooperation with our strategic partner in Russia which reflects our technical and commercial relationship very well” - said Olivier Cauquil, Airbus Senior VP Materials and Parts Procurement.”

“The expansion of cooperation in the framework of the contract reflects the long-term relationship between VSMPO and Airbus. Our relationship overcame the commitments of “Customer-Supplier” and now it's for real partnership.“- said Mikhail Voevodin, CEO of VSMPO-AVISMA Corporation. “Our cooperation brought to new technologies and forgings, specially developed for airliners produced by Airbus. The fact that VSMPO-AVISMA Corporation is involved in almost all Airbus projects for civil aircraft construction, confirms the stability and the prospects of our partnership“.

VSMPO-AVISMA is a key supplier of titanium for Airbus, providing over 60% of the company's demand in this material. The companies began to cooperate in the 90's, when the first agreements for supply of raw materials were signed. Over time, the nomenclature of purchased products has changed and has grown to include machined parts of higher added value.

In 2009 an important step in strengthening of the partnership was the signing of the largest and the longest-term contract in the history of cooperation between the two companies. The agreement valued at USD 4 billion, covers the supply of flat and round mill products made of titanium alloys, as well as forged parts for Airbus and other EADS divisions through 2020.

Signing of this Addendum represents a development of the basic contract between the companies and is in line with the intention of both companies to expand cooperation towards value-added products, including machining and supply of near-net shaped parts.