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VSMPO-AVISMA received a net profit of 340 % more

4 April 2011
VSMPO-AVISMA received a net profit of 340 % more

Net profit of the company

VSMPO-AVISMA (the world’s largest

manufacturer of titanium) in the past year

grew by 340% (compared to financial

the 2009 results). According to reports

the press service of the company, in 2010

the company received 587, 9 million rubles

profit. Revenue joint

companies in the past year fell by

4,5% to 24,748 billion compared

with 26,013 billion in 2009. From reports

the company implies that this situation

things was dictated by the adjustment

selling prices of manufactured products

and the decline of the dollar.

According to the reporting

documents, accounts payable

VSMPO-AVISMA to the beginning of the current year

increased to 4, 952 billion,

whereas in the past, this amount was

2, 933 billion of Receivables the receivables

AO to the beginning of 2011 dropped to 8, 48

billion in comparison with 13, 84 billion in

the beginning of 2010.

In The Russian Federation

for the production of titanium and titanium products

VSMPO-AVISMA is the enterprise-a monopolist.

About 70% of the production capacities of

Corporation products are delivered to the

exports. The company constantly invests

tools in own development. So

current year management of the Corporation

plans to invest in various projects

about $300 million, more than double

last year’s figures. And 2014

the Corporation invests in the production

more than 735 million U.S. dollars. According to forecasts

analysts of the company during this period

production capacities of VSMPO

reached 46 thousand tons per year.

1 April 2011
5 April 2011