JSC "Corporation "VSMPO-Аvisma" is going to produce 27 thousand ton of titanic prodacts in 2011
26.01.2011, 09:27
JSC "Corporation "VSMPO-Avisma" is going to produce 27 thousand of titanic products in 2011, it is 27,4% more that in the previous year 2010, according to the information given from General Director Mikhail Voevodin.
10 they produced 21,2 thousand of titanic products, it is 10% more thaп it was planned. "For this year we have a plan of 27 thousand per year, so we would reach the level of the year 2007", - he said.
The general Director also noticed that the budget for 2011 was not adopted yet. Because the investment program is being duscussed now. It is planned to be discussed by the Board of Directors at the end of January.
"The problem consists in our long-term program for the next year. It must be invested about $250 mln. , but according to the wishes of the factory departments it should be $350 mln. But anyway if it will be only $250 mln., it will cause the increase of the debt load", - said the general director.
According to the sources of financial borrowing the Mr. Voevodin meant, that they will be bank borrowed funds, It was not planned to place bonds. "We have a good borrowing rate", - he said.
it was previously reported that the corporation had produced in 2009 about 19,5 thousand ton of titanium, it is 26,5% more than in the year 2008, and 28,8% less than in 2007.
"VSMPO-Avisma" is a monopolist in titanic production branch in Russian Federation. Its main stockholder is the state corporation "Rostekhnologii" (66%).
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