ZHUKOVSKY (Moscow Region), August 21 (RIA Novosti) - Russia's VSMPO-Avisma, the world's largest titanium producer, said Tuesday it planned to increase output to 46,000-47,000 metric tons by 2012, up from this year's target of 27,600 tons.
VSMPO-Avisma CEO Vladislav Tetyukhin said the company, which controls one third of the global titanium market, needed investment of up to $1 billion to achieve its goal.
Tetyukhin, who is attending the MAKS-2007 air show outside Moscow, said the company would use equity capital and borrowed funds to invest in the company's development.
The chief executive said VSMPO-Avisma, whose clients include aviation companies Boeing, Airbus, Snecma, GE Aircraft Engines, Rolls Royce Aerospace and Pratt&Whitney, planned to hold an initial public offering in 2009-2010, most likely on European trading floors and on U.S. exchanges in the form of American Depositary Receipts (ADRs).
Rosoboronexport, Russia's arms export monopoly, holds a 66% stake in VSMPO-Avisma.
