Former general director of the VSMPO-Avisma concern (the Russian supplier of titanium for the American aircraft manufacturer Boeing) Mikhail Voevodin has renounced the rights to his 6.53 percent of the company. This was reported by RBC with reference to a source.
This share was received by the main shareholder of VSMPO-Avisma, Mikhail Shelkov. The deal was worth two billion rubles, according to a source. Based on the capitalization of VSMPO-Avisma on the Moscow Exchange, 6.53 percent is worth 16 billion rubles. Voevodin did not own the shares directly, but through several structures.
In early January, the concern dismissed the head of Sergei Stepanov. In his place was appointed Dmitry Osipov, who previously headed Uralkali. The current change of leadership was the third for VSMPO-Avisma over the past year.
The US Department of Commerce on January 15 removed the concern from the blacklist of companies that, according to the American authorities, cooperate with the military in their countries. The department admitted that the idea of including the company on the blacklist was wrong. VSMPO-Avisma is the world’s largest manufacturer of titanium products. The company is the main supplier of the American corporation Boeing, the partners did not interrupt their cooperation even after the imposition of sanctions against Russia.