On 17 March 2017, Maxim Oreshkin, Minister for Economic Development in Russia, met Horst Seehofer, Ministerial President of Germany’s federal state of Bavaria in the Ministry of Economic Development of the Russian Federation. The parties discussed the current state of, and prospects for, the development of Russian-Bavarian trade and economic relations, as well as the Russian investment climate and signed a joint declaration at the meeting.
In addition, a five-year contract was signed between Chepetsky Mechanical Plant (a company of Rosatom’s TVEL) and Hermith GmbH, a European distributor of titanium products, for a large supply of rolled titanium.
The contract envisions Chepetsky mechanical plant supplying more than 1000 tonnes of various titanium products to the European Market, with the supply volume increasing annually, peaking in 2021. The total value of the contract is more than EUR 30 M. At present, Chepetsky mechanical plant’s main task is to develop profitable new titanium products to meet market demand.