Last week surprised the region with unexpected resignations of top state officials. VSMPO signed the first long-term contract with its old partner Airbus. UralVagonZavod plans to acquire new assets – two supplier companies it’s been working with for years. Look for details in the weekly report of event by UralPolit.Ru.
Last week surprised the region with unexpected resignations of top state officials. VSMPO signed the first long-term contract with its old partner Airbus. UralVagonZavod plans to acquire new assets – two supplier companies it’s been working with for years. Look for details in the weekly report of event by UralPolit.Ru.
Two loud resignations
Galina Pakhalchak, deputy minister of natural resources of Sverdlovsk Region resigned. The official information states resignation was caused by personal motives.
Vladimir Ostrovsky, chief federal inspector of Sverdlovsk Region, also resigned last week. According to unofficial sources, his withdrawal is connected with the disapproval of presidential envoy of Ostrovsky’s handling of the situation with Lobvinsky Biochemical Plant.
Long-term contract of VSMPO-Avisma and Airbus
President of Airbus Tom Enders signed a long-term titanium supplies agreement until 2020 with VSMPO-Avisma, integrated structure of “Russian Technologies”. The contact costs 4 billion USD, by the estimations of the parties.
Preparation of this contract started on July 15, 2008, when VSMPO-Avisma and Airbus signed a framework agreement for titanium supplies. Negotiations continued in January 2009 when Tom Enders arrived in Moscow.
The agreement covers the supply of titanium to Airbus and other EADS Divisions from 2012 until 2020. Despite of the fact that Airbus buys 12-13% of VSMPO-Avisma products, before today their contracts were signed for much shorter terms.
The new contract includes supplies of flat rolled products, round steel bars and die forging parts for all existing Airbus aircraft, including the new generation of aircrafts such as A350XWB. The contract also presumes opportunity to extend processing of titanium products right at the facilities of VSMPO-AVISMA Corporation.
Senior expert of the investment holding FINAM Dmitry Baranov gave his comments on the subject: “The contract of titanium supplies for Airbus costing $4 billion influenced the listing of VSMPO-Avisma shares even before signing”.
New assets of UralVagonZavod
Federal Antimonopoly Service approved of a purchase deal between UralVagonZavod and Holding SIBUR-Russian Tires. UralVagonZavod is buying a Holding’s enterprise, Uralshina (Ural’s Tire). Uralshina has been a long-term supplier of UVZ.
This deal is not the first project of UralVagonZavod in regard to acquisition of suppliers. Federal Antimonopoly Service also approved of another deal of UVZ, that of purchasing 50% of voting shares of Uralcryomash (Nizhny Tagil), which manufactures cryogenic railway tank-cars.
From the point of view of business, purchase of Uralshina and Uralcryomash is highly profitable, executive director of the Union of Defense Industry Enterprises Vladimir Kukarskih commented. Change of directorate will not influence acquisition of assets.
New commission of Yury Osintsev
Council of the Federation terminated the commission of Senator Yury Osintsev on April 22. He moved from the legislative body to the executive body of state power after Vladimir Putin appointed him Deputy Minister of Regional Development on March 26, 2009.