NIZHNY NOVGOROD. June 27 (Interfax-AVN) - State-owned arms trader Rosoboronexport may soon buy at least a blocking stake in titanium producer VSMPO-Avisma (RTS: VSMO).
"We're interested in at least a blocking stake. I think the transaction will be closed soon, its first part. We'll become a direct shareholder and, in that capacity, we will be involved in the creation of a joint venture with Boeing," Rosoboronexport general director, Sergei Chemezov, told a press conference in Nizhny Novgorod.
The joint venture will produce machined titanium products, which will be supplied to Boeing and certain other companies.
"Normal commercial negotiations are in progress, but it is hard to say when they will be concluded," Vyacheslav Bresht, VSMPO-Avisma's board chairman, told Interfax, commenting on what Chemezov said.