Shares of the largest Russian manufacturer of titanium “VSMPO-AVISMA” — collapsed on trading after news about the response of Russia on the new U.S. sanctions, пишетfinanz.ru.
“VSMPO-AVISMA” sends 70% of its products exported, supplies 40% of Boeing needs. The securities of the company that produces 90% of titanium in Russia and accounting for a third of the global aviation industry ended the week with a drop of 6.25%. The collapse of quotations became a record since June last year and cut off from the capitalization of the company 14 billion.
In a press-service of the company noted that the possible restrictions on the supply of titanium in the US, where the main consumer is the Boeing Corporation, may result in the breach of cooperative ties and obligations to the detriment of the Russian economy. In addition, in the Ural region more than 20 thousand employees will find themselves in a crisis situation, added in VSMPO.
Earlier it was reported that the state Duma was introduced a bill that, in addition to restrictions on imports of American agricultural products, goods, software, offers to end the international cooperation with the USA in the aircraft industry.