Airbus signs $4 billion titanium deal with Russia

21 April 2009

Airbus, one of the leading aircraft manufacturers producing around half of the world's jet airliners, has signed a long-term contract with the state corporation 'Russian Technologies' for the supply of titanium products for its airplanes.

The $4 billion deal will secure Airbus a reliable source of special products which are used in the manufacture of many components and assemblies of modern aircraft.

The agreement, hailed as a landmark deal, was signed in Moscow on Monday by the director general of Russian Technologies Sergei Chemezov and Airbus chief executive Thomas Enders in the presence of Russian prime minister Vladimir Putin.
 
"We started with small steps but this is a great step forward," said Thomas Enders.

Chemezov said: "The signed agreement demonstrates that Russia can offer high technology products to the world markets.'' ''During a period of economic crisis, having stable orders is extremely important." He added.

Chemezov who also heads a new airline company Rossavia said it would need around 200 aircraft and the company placed an enquiry to Airbus for a whole range of airplanes.

A preliminary agreement was reached between the two sides last year, covering the supply of round and flat-rolled titanium products and stampings for contemporary Airbus models.