OREANDA-NEWS. On October 31st Alcoa representatives paid a visit to VSMPO-AVISMA production site located in Verkhnaya Salda.

This American Company's delegation was headed by Forge & Press Global Group Chief Operating Officer Eric V. Roegner. The delegation was mainly composed of top managers from ZAO Alcoa SMZ (former Samara Metallurgical Works). This is where a new joint venture will be created based on the mill forge-and-pressing facility. JV cooperation agreement was signed by chairman of VSMPO-AVISMA Board Sergei Chemezov and chairman of Alcoa Board Klaus Kleinfeld on October 21.

The American partner's representatives visited the mill primary shops where a lot of time was spent to discuss manufacture of titanium and aluminium alloy semi finished products. In addition, short-term objectives of JV creation were under discussion with VSMPO-AVISMA management.

On completing the visit VSMPO-AVISMA CEO Mikhail Voevodin gave his opinion of this mutual initiative:

"Extended cooperation between VSMPO-AVISMA and Alcoa partially competing on titanium forgings market is very important.

To my mind, creation of the joint venture by our companies is a unique event as we united being on opposite ocean coasts. This JV is good not only for VSMPO and Alcoa business, it is positive in terms of political situation as well, for cooperation of such major national companies is an index of constructive and effective cooperation between our countries".