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French Figeac Aero to create JV with VSMPO-Avisma

Figeac Aero, a French industrial group, is planning to create a joint venture (JV) with VSMPO-Avisma, a Russian titanium corporation. The JV will be used to create a shared production center to be hosted by Titanium Valley, a special economic zone (SEZ) that is currently under construction in the Sverdlovsk Region.

"We are currently discussing cooperation options with VSMPO-Avisma both in connection with potential synergies and personnel recruitment," Figeac Aero's Commercial Director Toma Jirar told.

In 2014, Figeac Aero and VSMPO-Avisma executed a trilateral memorandum of cooperation to be implemented as part of the Titanium Valley project. The document furthers partnership in the mechanical processing of titanium items and manufacturing of fabricated assemblies and sub-assemblies.

Some market players believe investments into the project may reach about EUR100 million.

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