Ministry of Economic Development has approved a new resident of the SEZ "Titanium Valley" - a partner Minicut International Inc.

Ministry of Economic Development has approved a new resident of the SEZ "Titanium Valley" - a partner Minicut International Inc.
Expert Council under the Ministry of Economic Development of the Russian Federation December 24, 2015 approved the Company "Tool production" as a new resident of the Special Economic Zone "Titanium Valley".

Ltd. "Tooling" - a Russian company, which together with Minicut International Inc. It launched a project for the manufacture of high-performance cutting tool for cutting hard materials: titanium, high temperature alloys; stainless steel, composite materials (CFRP, GRP). The main sales markets - aerospace, defense and shipbuilding industry.
The volume of investments - $ 1.765 million. The needs of future residents will be allocated an area of 0.5 hectares. The enterprise is planned for the IV quarter 2016

General Director of JSC "SEZ" Titanium Valley "ArtemyKyzlasov:

"Before Minicut International Inc, task was to create the first of its own production in Russia and for the localization guide to choose "Titanium Valley". The main advantage of the product of our future resident is the unique geometry of the cutting edge of the cutters, which will allow achieving a significant increase in performance with machining and cost reduction. As part of this import will increase the competitiveness of domestic enterprises of the aviation and defense industries, including those at today's purchase limit import tool. "
Among the current and potential customers of the future residents are VSMPO-AVISMA Corporation, Ural Boeing Manufacturing, as well as entities in the United Aircraft Corporation (UAC), the Corporation "Tactical Missiles" United Engine Corporation, United Shipbuilding Corporation, State Corporation "Rosatom "(nuclear companies) as well as EKR" Almaz-Antey "and holding" Russian Helicopters ".

Director of work with the residents of "SEZ" Titanium Valley "Galina Demeneva:
"Negotiations with Minicut International Inc began in mid-2014. They were held in Canada, in United States, and then continued in Russia. The result of this series of meetings was the decision of the Expert Council of the Russian Federation Ministry of Economic Development, which approved the new resident quickly and almost without any issues. "
Resident status of a special economic zone of "Tool production" will receive after signing a tripartite agreement with the SEZ "Titanium Valley" and the Ministry of Economic Development, which will take place in the near future.

For reference:

Minicut International Inc was established in 1963. The Canadian company (Montreal), specializing in the production of high-performance cutting tools for the aerospace and metal industries. Among the customers - Boeing, Airbus, GKN Aerospace, Embraer, Bombardier Aerospace.