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MOSCOW, RUSSIA - VSMPO-Avisma, one of the world’s largest producers of titanium for Boeing and Airbus, is considering temporary suspension of production in September if the business does not improve, its acting chief executive said.

The Russsian state-controlled company has been hit by the COVID-19 pandemic, which has grounded most passenger planes around the globe and reduced demand for its products from planemakers.

“The shutdown is an extreme measure. And we are not going to take that extreme measure in August. We are now looking at September. The decision will depend on how many orders we actually get by early autumn,” 

VSMPO quoted acting CEO Maxim Kuzyuk telling a recent meeting with the company’s labour union.

The situation in its sector will remain very difficult this year, but the company still hopes that it will find enough orders to cover its costs and avoid the shutdown.

“The suspension is highly unlikely,” 

VSMPO told Reuters on Thursday.

Via Reuters

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