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Monday, December 2, 2013

Russian titanium firm VSMPO sees bright future on aerospace boom, (NYSE: BA)

Russia's VSMPO-Avisma, the world's biggest producer of titanium, expects profits to rise 25 percent to some $250 million this year due to robust demand from the aerospace industry, the firm's key customer.While industrial metals-producing peers struggle with rock-bottom prices, business is booming for VSMPO with the recent signing of potentially lucrative deals with U.S. firms Boeing Co and Alcoa.The strength and low density of titanium, named after the all-powerful Titan gods of Greek mythology, mean the silver-coloured metal is highly prized by aircraft manufacturers, a market seen growing up to 10 percent in 2013.A trend towards using more lightweight composite materials for building planes is also working to VSMPO's advantage, according to Chief Executive Mikhail Voevodin.

The Boeing Company (Boeing) is an aerospace company. Shares of BA remained unchanged at $134.25. In the past year, the shares have traded as low as $72.68 and as high as $142.00. On average, 4411610 shares of BA exchange hands on a given day and today's volume is recorded at 100.