OREANDA-NEWS. May 2, 2007. The meeting of the Board of Directors of VSMPO-AVISMA Corporation approved the Company’s budget for 2007. To implement the strategic development program till 2012, in 2007 the Company’s management plans to spend up to $270 mln (less of VAT) for development of production, which is 2.5 times more compared to the last year. Titanium output will be increased to 27,000 tons, which is 13.5% higher compared to the last year.

"Production development plan was generated taking into account titanium products demand from the leading Russian industries and our strategic foreign customers.
As before, in 2007 the Company will take part in the joint Russian and international aerospace and power-engineering projects. To that end we are going to develop production of value-added titanium products. At AVISMA - affiliate major investments will be done to improve efficiency of the power supply system to support the planned increase of the sponge titanium output", stated Vladislav Tetyukhin, Director General of the Company.
The statements given above relate to the issues which are not yet historical facts, but represent future forecasts, opinions and assumptions of the Company’s management based on the currently available information. Financial information given in this statement can be corrected in the future. This information shall not be considered final and shall not be used for making any decisions regarding the Company’s shares.