During the St. Petersburg International Economic Forum, TVEL Fuel Company of ROSATOM and Hermith GmbH (Germany), a major European titanium supplier, have concluded an agreement aimed at establishing a joint venture for the production of titanium alloys.
The Russian-German joint venture will specialize in high value-added products for knowledge-intensive industries such as aviation, automotive industry, and medicine. In the first stage, it is planned to launch titanium wire production for additive manufacturing (3D printing), as well as seamless pipes for hydraulic aircraft systems. Further on, the parties consider expanding the product range, in particular, with such products as aircraft fasteners, titanium springs for the automotive industry, parts of endoprosthesis, superconducting materials, etc.
The agreement determines the relevant corporate procedures for the establishment of the new company, as well as a list of documents required for the investment deal and their purpose.