Boeing Company managers discussed the project to build a new factory in the Titanium Valley special economic zone

Boeing Company managers discussed the project to build a new factory in the Titanium Valley special economic zone
As part of the St. Petersburg International Economic Forum, Boeing Company management met the Russian delegation, including the director of the SEZ and development projects in the regions and mono-towns and cities at the Ministry of Economic Development of the Russian Federation, Andrey Sokolov, Director General of Special Economic Zones OJSC, Vadim Tretyakov, Deputy Chairman of the Sverdlovsk region government, Alexey Orlov, and Director General of the Titanium Valley SEZ, Artemy Kyzlasov.

The parties discussed the next steps on construction of the second Boeing factory on the territory of the Titanium Valley SEZ in Sverdlovsk region. On 18 November 2013, Boeing and the Rostec State Corporation signed a memorandum of understanding for construction of a new factory for UralBoeing Manufacturing JV (UBM), on which production of titanium forgings for all Boeing planes is planned. It is planned to build the factory at the Titanium Valley SEZ (Sverdlovsk region).
In July 2009, Boeing and VSMPO-AVISMA Corp., the largest titanium producer in Russia, formed a joint venture, Ural Boeing Manufacturing, with equal shares of authorized capital (50/50) to be located in Verkhnaya Salda, Sverdlovsk region. UBM is a new up-to-date enterprise for machining of titanium forgings for the most hi-tech planes in the world – the Dreamliner 787-8 and -9.
“For more than twenty years, Russia has been one of the key partners for Boeing in the field of innovation, information technologies, engineering potential, space programs and sales of titanium products. Today, at our meeting, we have once again confirmed the importance and absolute mutual advantages of our business contacts”, said Sergey Kravchenko, President of Boeing for Russia and the CIS.

Between 1993 and 2013, the Boeing company successfully carried out on the territory of Russia and the CIS countries projects for the total amount of USD 7.5 bn. During the next few years, it is planned to invest USD 27 bn: USD 18 bn on purchasing titanium products, USD 5 bn on acquisition of design services, and USD 4 bn on acquisition of other goods and services.
Boeing has created more than 2000 jobs for specialists in the field of high technologies and has become one of the largest Western customers of Russian intellectual services, including design, R&D, and IT services.
“Every fifth one of 379 SEZ resident companies is foreign, and they provide 1/4 of the RUR 456 bn of declared investments”, Director General of SEZ OJSC, Vadim Tretyakov announced. “We welcome the arrival of large foreign players. And these are not only investments in Russia, but also in technology.”