France’s Figeac Aero and Russia’s Titanium Corporation VSMPO-AVISMA have signed a trilateral memorandum of cooperation within the framework of the Titanium Valley special economic zone project.
Farnborough (Great Britain), 15 July 2014
The document envisages long-term collaboration in the machining of titanium parts and manufacture of finished sub-assemblies and assemblies.
“We are very much interested in developing cooperation with Figeac Aero – a first-class company known across the world markets for the high quality of its machining and assembly work. This will undoubtedly expand our capabilities to manufacture the best products meeting the needs of our aerospace customers”, VSMPO-AVISMA Director General Mikhail Voevodin stated.
“Figeac Aero really appreciates this opportunity for cooperation with the largest manufacturer of titanium products for the aerospace industry. Our companies are the world’s leaders, each in its own area. Our collaboration will provide customers with a comprehensive high-class service package, from top-quality materials to great end results”, Figeac Aero CEO Jean-Claude Maillard commented on the deal.
Artemy Kyzlasov, Director General of Titanium Valley SEZ OJSC, in his turn noted: “Signing this agreement is not only an important milestone in the development of relations between our companies, but also a serious basis for formation of industrial chains and cooperation ties between the world companies, using the favorable economic conditions of the special economic zone.
VSMPO-AVISMA Corporation OJSC is the world's largest titanium producer, having the full process cycle: from processing of raw materials to finished products with a high degree of machining quality. The corporation supplies its products to the markets of 50 countries, and is deeply integrated with the world aerospace industry, and for many companies is their strategic supplier. Personnel numbers are around 20,000 employees. The control block of VSMPO-AVISMA shares belongs to the management, and the blocking shares – 25% plus one share – to Rostec.
Figeac Aero is an international group of companies specializing in manufacturing parts for aviation engines, chassis and units, and leads the market in providing a full package of services, from design to selection of ready units. The group enterprises are in France, Tunisia and the USA, with a personnel of 1450 employees. By 31 March 2014, the income of Figeac Aero amounted to €164,400,000.
The Titanium Valley special economic zone (further SEZ) is Russia’s specialized industrial platform for manufacturers of titanium products, components and equipment for metallurgy, mechanical engineering, and construction materials. For SEZ residents, unique conditions have been created – production infrastructure, administrative, tax, customs and land benefits. Profit taxation conditions in Titanium Valley are among the most attractive in the Russian Federation. The project is provided with guarantee protection by federal law against any adverse changes in the tax system of the Russian Federation for the whole SEZ activity period.